What expenses should I factor in for a rental purchase?

[Marty Gold]

I want to make an excel spreadsheet to help me compare properties.  I know BP offers a calculator but I like using excel. 

So far I'm factoring in:

Purchase price, mortgage, closing costs, rehab, taxes.  

Also utilities like Electric, Water, Garbage, insurance, other ecepenses, including vacancy & CapEx.

And of course, income. 

What am I missing (most importantly on the expenses side) that I need to consider when deciding if a deal is a good rental purchase or not?

Thank you. 

[Anthony Dooley]

I recommend a very simple formula. People often over think all of the possible "what if" scenarios. Take possible gross rent for the year and subtract all known expenses like taxes, insurance, management etc. That equals your max possible net income. Put all of your rent in a separate account. Do not spend any of it except for expenses related to your property. At the end of the year, the balance equals net profit. Adjust next year's projection based on this. There are not two properties in the world that will perform exactly the same.