What am I doing wrong?

[Tristan Cortez]

Hi BP,

I've been analyzing deals just to get as much experience on finding a good deal. The problem is I'm putting properties into my excel spread sheet and my cap rate pro app and I can't seem to "make" any money if I purchased the property.

Bellow is my hypothetical example based on a real house I found on the MLS.

Asking price $84,000

Purchase price $84,000

Renovation $12,000

ARV =$110,000

Rent $1100

Vacancy 7% ($77)

Capex 5% ($55)

Repairs 5% ($55)

PM 10% ($110)

Insurance ($150)

garbage ($20)

Property tax ($200)

Total expenses $667

NOI= 433

Mortgage

5% interest

20% down

Over 30 years

Purchase price $84,000

Monthly payments =$ 361

=$72 cash flow witch in nowhere near my requirements of $150 cash flow for SFR

So basically I can't "make" any money on a $84,000 house. What am I doing wrong?

My I over estimating/underestimating?

All answers are greatly appreciated.

ALL answers are graciously accepted. Thanks