BRRR strategy question

[Frankie White]

Hello bigger pockets community. I’m a brand new investor and looking to acquire my first property In the atlanta area within the next few months. My plan is to implement the BRRR strategy by buying, rehabbing, renting, refinance and repeat. My question is after I refinance the house my mortgage will go up and I will have less cash flow to manage the property and I will likely not meet the 1% rule whereby I’m renting the property for 1% of the purchase price or refinance price. I’m hoping the cash flow will be enough to manage the property without going into negative cash flow. Here are the numbers. Purchase price 170K, rehab cost 20K, comps in area 210K. So I’ll be getting about 20K of equity in cash to fund another deal. Rent will be $1500 a month. Refinanced mortage will likely be $1200 a month leaving cash flow of $300 a month to mange the property. Is this how its supposed to be? Is $300 enough to mange a property by hiring a PM?