Am I evaluating a properties cash flow correctly here?

[Randall Marshall]

I'm located in the Salt Lake Utah area. I'm trying to build a spreadsheet for evaluating properties. Here is an example of a property for a newer 4 plex currently available. I came out with a negative cash flow of $203. Am I missing any other obvious expenses? Are any of these expenses over or under expectations? This building was built in 2015 and is outside of a growing tech area.

• Purchase price: $940,000
• Loan amount: $705,000 (25% down)
• Closing costs: $19,000
• Loan terms: 5% interest, 25 amort, 10 year call, 5 year rate adjustment (Estimating here based on bank websites)
• Monthly rent: $6100
• Monthly HOA: $648
• Monthly property management: $427
• Monthly cap ex/vacancy savings: $6100
• Monthly mortgage payment: $4121
• Monthly property tax: $181
• Monthly insurance: $180
• Cash flow: -$203

With no property management the cash flow becomes $224 and no cap ex/vacancy it becomes $733. Thank you.