Is this a good deal for my first rental property?

[Ruei-Jiun H.]

Hi folk,

Thank you very much for your time to read and comment.

After listening to the BiggerPockets podcast for 6 months, I am very excited to get involved in real estate to build my freedom number. My goal is to get $150-$200 cash flow per unit. I have a full time Job, so I am buying properties from the turnkey company out of states. 

Here is the number. It's a single family house, built in 1986, 3 beds, 2 baths,1 car garage, 1330 sqft, located on B neighborhood. Rehab is done; cost $29K.

- Purchase price: $91,900 

- downpayment: $18,380 (20%)

- Rental income: $10,740 annual ($895 per month), It's tenant occupied now. Lease is two       years.

- Annual expense estimate: $10,008

• 5% vacancy -  $537
• Property Taxes - $1,190 
• Insurance - $430
• 5% Maintenance Reserve - $537
• 10% CapEx - $1,074 (This is based on the assumption that extensive rehab costs ~$30k and lasts for 30 yrs. But I am not sure if this is right)
• 14% property management -$1,504 (The PM is 10%, but they charge 1 month fee to screen tenants. I factor in that they got new tenant every 2 yrs. Based on this, the PM per month can be up to 14%)
• $4736 mortgage (30 years @ 5% fixed)

- Cash Flow: $732/yr - $61/mo (if budget CapEx), $1806/yr - $ 150/mo (if didn't budget CapEx, because they spent $29k to rehab to property.)

- Cash on cash: 3.5% (if budget CapEx), 8.5% (if not budget CapEx, but remains 5% maintenance)

Is it a good deal from a turkey company? At what price would you buy? I am still not sure how much CapEx I should budget.

Thank you very much again for taking time to read and feedback.