1st offer-4 family check

[Brad S.]

I'm looking to make my first offer and need some help checking my numbers. It's a brick 4-family (2-1bed, 2-2bed) in a lower income, but decent/low crime neighborhood on a street with other 4-families. The property is vacant so there is no actual expenses available.

Numbers:

• Asking price: $50,000
• Repairs/Upgrades: $20,000 (needs driveway, HVAC repair, water heaters and possibly kitchen/bath upgrades)
• Monthly gross rents: $2,130
• Expenses: $1,476 (69% - seems high but breakout below)
• Income after expenses: $654
• Mortgage payment (25% down): $282
• Monthly cashflow: $372

Monthly expense detail

• Taxes: $383
• Insurance: $62.50 (estimate)
• Property management: $213 (looking to self manage though)
• Vacancy: $191.70 (9% assumed)
• Utilities: $150 (SWAG estimate owner pays water/sewer)
• Maintenance: $213 (10% assumed)
• Cap Reserves: $213 (10% assumed)
• Grounds keeping: $50 (SWAG estimate-mowing & snow removal)

Besides input on whether this makes sense, I have a couple of specific questions:

1) I can never hit the 50% rule when I run the numbers. Do you include vacancy rate when calculating? I'm I being to conservative on my maintenance and cap reserves (10% each)?

2) How much should I factor for grounds keeping (Ohio) and water/sewer?