Saint Louis, MO 4 Plex Numbers for Cash Flow

[Wai Fung]

I'm sitting here at the St. Louis airport after looking at over 15 4 plexes all over St. Louis over the last 2 days. Here are the numbers for a 4 plex in St. Louis:

Price: $129,500
Units: 4 plex
Down: 20% $25,900
Closing Costs: $4,500 (+/-)
Interest Rate: 4.25%
PITI: $837.06
Rental Income: $475(2) and $850(2)
Total Rental Income: $2650
Management: 8% $212
Vacancy: 10% $265
Maintenance: 5% $132.50
Cash Flow: $1203/month

Am I missing anything? Is there a spreadsheet that I can use as a
template that someone might have?

What do people use to organize their rental properties? Excel? Special property management software?

So, if it is fully rented. I can make my initial money back in a
little more than 2 years. I can pretty much pay off the property in 7
years (but I wouldn't do this because I need the tax benefits). The numbers above is before taxes of course. I guess this would be the same without the headaches if I invested my cash with a commercial real estate investment group where their goal is to double investor's money in 5-6 years where I receive the tax benefits via a K-1.

What to do?

Any feed back would be greatly appreciated.