Newbie with 1st purchase in sight

[Sean Payne]

I'm an active duty military member that is currently renting a 3bd/2ba for $1350 and have talked to the landlord about purchasing. Is willing to sell, just want to make sure I fully analyze deal without going into analysis paralysis, so any advice, knowledge and insight would be greatly appreciated!!! Details of deal as follows:(copied numbers from BP Rental Property Calculator)

Purchase Price: $175k Purchase closing costs:$3000 (is this estimate accurate?) Repair Costs: ? Total cost of project: $178k Using VA loan, so $0 down. Preapproval: 30yr loan @ 2.75% with monthly P&I:$732

Plan on renting when I move to next duty station for $1500.

My estimated expenses are: (please advise if I'm missing something or my numbers are off!!)

Vacancy:$45/mnth; Cap Ex:$75; Insurance:$100(estimated, no quote yet); Repairs:$75; Prop Management:$150; Property taxes:$72; Mortgage:$732; No utilities/HOA Total:$1249

So am I correct to assume I'd be in the green about $300/mnth? Again, any suggestions or advice is more than welcome because honestly I so badly want to start my real estate investing journey, but this first deal is causing me a little anxiety. I do plan on asking seller to cover all or part of closing cost and rolling VA loan fee into loan so I can try to spend little to no $ out of pocket. Any other suggestions on how to accomplish that? I'd also like to close in 30 days, is that feasible or average? Thanks in advance for your input!

[Tim Herman]

@Sean Payne you might have positive cash flow but not as much as you anticipate. Taxes look low, less than 1% of purchase price. What are you including in your capex budget. Mine has appliances, hot water heater, roof, floors, bathroom remodel, kitchen remodel, etc. I use 10% or $100 whichever is greater. Let's look at one item in a capex budget. Floors: carpet 5 year life span, laminate and lvp 10 year life span, hardwood floors 25-30 years(refurb every 10 years or so),tile 25 years.  Say you put in new laminate floors. 1000 sf of flooring. My area it is $6 sf to replace. $6000/10 year life span/12 months in a year=$50 per month. I don't think your other $25 per month will cover the rest of your capex items.