Turning primary residence to a rental

[Ethan Poe]

I am a young professional and aspiring investor and am looking to turn my primary residence to a rental and purchase another residence and repeat. I am running the numbers on my primary residence to make sure it will cash flow. I have contacted a land lord renting a similar home down the street from mine. He was renting his out for $1695 per month. Can some seasoned investors take a look at my numbers below and give me their thoughts. Am I missing anything? Thank you! 

1600 SF Townhouse, 3 bed rooms, 3 full baths

Income:

Rent $1695

Expenses:

Principle and Interest $703

Taxes & Insurance $155 (included in mortgage)

HOA $125 - Covers all lawn care and outside maintenance including replacing the roof.

Vacancy 8% $135

Repairs $75

CapEx $75 - Low because HOA covers roof and entire outside of property

Cash Flow - $427