Moving - what formula for my rental?

[Craig Caldwell]

Okay, so... basically I bought a 3/1½ house, 1400 sq. ft.(first home) In 2016, and recently it is looking like my job is going to be making me move to another state!

I'm wanting to turn this house into a solid rental unit - which I haven't finished the rehab-cost analysis to get it rentable yet.

I feel like I am missing a critical part of the rental formula though... Mortgage, taxes&insurance are all paid through escrow, setting aside for upto 3 months of vacancy, plus a small sum incase of a serious and unexpected repair...

The house would sell for about 135k but needs ALOT of updating to do that(would offset the profit too much to be worth it right now), I owe about 90k on it. Rents range between 950 and 1300 in the area - I'm convinced mine would be at the higher end because of size and features.

But, what's enough cash-flow to reasonably operate from out of state? I feel uneasy and uncomfortable because my formula is only showing me about $100 to $200 cashflow/month, am l being unreasonable in saying "I'd be alot more comfortable operating out of state if it cash-flowed over $400"? Or am l being too stingey?

Any input will be appreciated, thanks.