Calculating Cashflow

[Ryan Dukelow]

So I'm ready to buy my first SFH rental, but I'm struggling with a few things. I want to know what expenses I MUST account for when calculating rental income minus expenses. (Tax, Insurance, etc.) Also, how do I know what some of those numbers will be? I have a property I've been looking at and I know that tax on it was 2,000$ last year.. what else do I need?

I'm excited to here back from you all at BP, keep in mind I've done a lot of reading and homework, but I'm kind of freezing when it is starting to become real. I want to keep my drive going, which is why I decided to ask for help!