Quick 50% Rule Question

[Brett O]

I just want to be sure I'm using the 50% rule correctly.

I'm looking at a property, I estimate the property will produce $650 per month in rent.

So the 50% rule assumes that expenses such as maintenance and vacancy will cost $325 per month, and then I would have $325 per month left to pay PITI. Which would be my mortgage payment, annual property tax (divided by 12), and homeowners insurance.

Am I figuring this right? It feels like I'm missing something.