Calculating expenses for a small multi-family property

[Angela Romero]

Hi Bigger Pockets community, 

I'm starting to analyze deals in the Philly + suburbs area. I'm looking for a small multi family in the 100-250K range. Here are the costs I'm estimating and would love to get your feedback on these numbers and assumptions. Does this look right or am I off base? I'm I missing any other expenses line items? 

Also, if you have a multi-family in this area for sale, send it my way! 

Costs 

Non-recurring 

Closing costs - 6% of purchase price

Monthly  

% Vacancy and Credit Losses - 5-10% of monthly rent

Property Management Fees - 8-11% of monthly rent

Real Estate Taxes - actual from folio # 

Repairs and Maintenance - 5-15% of monthly rent 

Rental Property Insurance - 2,000 

Homeowners/Property Association Fees - 0 

Capex reserve - 1% of purchase price

Utilities  

Water and Sewer - tenant

Gas and Electricity - tenant  

Garbage - tenant

Cable, Phone, Internet - tenant - tenant