How do you determine costs for a new rental property?

[Jack Medford]

Hi everybody

My wife and I are looking to buy our first rental property, but we are not sure the best way to account for reoccurring costs. We know we need to plan for things like repairs and maintenance, but don't know how much. Besides from the obvious like taxes, insurance and repairs, is there anything else we should be looking out for?

Any advice you can give would be greatly appreciated.