Analyzing my first cash flow rental property

[Steven Denio]

I am looking into buying my first out of state rental property, I am looking to buy it in cash through a LOC that I have on another property of mine then use the delayed financing exemption to refinance into a conventional loan.

The purchase price of the house is 89,000 and it looks to worth about 105,000. The house is currently rented for 875 and has great tenants that just renewed the lease and I expect my mortgage, taxes and insurance to be around 590 in total if not less. I believe the house can rent for more after the tenants leave too. Looks like rental comps are around $995-ish for the area. I have a team in the area that will manage and maintain the property but I don't have a lot of experience with unexpected maintenance costs ( I think its 20% of net income?). I must not be using the bigger pockets rental calculator correctly because its telling me that my cap rate is 1.3% but The general % of income I'm showing that will cash flow looks to be around 24% before unexpected costs, such as maintenance and repairs. 

This is not my primary source of income (Yet :-), I am looking to start building a rental portfolio so this will be the first of many rental properties that I am looking to purchase. I have a plan to pay down the debt associated with getting into the properties but I'm concerned that the numbers are too tight here for this house to cash flow.  Any insight would be greatly appreciated. 

Thank you,