(Hopeful) First time rental property owner deal analysis

[Drew Judge]

My wife and I live in Livonia, Michigan and are making to push to get out of analysis paralysis and into taking direct action in securing our first investment property.  We have been in the education phase for quite some time now and it feels good to get our feet wet and start looking at properties and making offers.  The most recent house that we are looking at is a duplex (unit #1 2Bed/1 Bath, unit #2 1 Bed/ 1 Bath) that has both units currently occupied and renting for a total of $2,000/month.  With the purchase price of $220,000 it is just shy of the 1% rule, however comps in the area show that the rent is marginally under priced and likely could secure closer to $2,200 to $2,300/month with both units being occupied.  My primary questions when analyzing deals stem from what percentage you should be allocating for capital expenditures, repair and maintenance, and vacancies.  In the literature that I have read and the videos I have come across on here and elsewhere, it seems that 8% for each of those (24% total between the three categories) is a safe and conservative approach.  Is this something that others, whom have more experience than us, agree with?  Or are we off on our calculations.  Using 8% for each of these makes our deal cash flow less than $25/month, but when we lower our percentages it obviously makes the deal look much more enticing.  The house is in an area where appreciation has been very good over the years as well.  Any thoughts on the deal itself or how much to allocate additional expenses would be greatly appreciated.