Need advise on an SFH in Indianapolis

[Manish Sharma]

First of all let me tell you that I am novice investor, currently owning an SFH rental home in Austin, TX but looking to buy a few more properties by EOY 2018. I am currently evaluating Indianapolis and an offer was accepted a few days back. My issue is that everything happened so fast and I didn't get a chance to calculate my numbers. Basically home is for 140K in an A- suburb with a good school district. My expenses are as follows

• Downpayment - 35K
• Closing Costs - 4K
• Monthly Expenses (Mortgage, P&I) - 750K
• Property Management - 200 (One month rent for leasing, 10% monthly cost)
• Repair Costs - 50

I should be able to rent it out for $1150.

So my monthly cash flow is $150. AM I missing anything else? Is this a good number? Honestly, I am thinking of backing out and losing 2K in terms of earnest money and inspection. Please advise.

[Jeff Schechter]

@Manish Sharma I actually moved from Austin to Indy 18 months ago.  I'm happy to share my experiences.  PM me if you want to know more.