Went looking for a flip, found two rentals, need help w/number

[Chris Marshall]

Hello all, over the past months I have been preparing myself to find a flip and although i knew the end goal was rentals I haven't been really paying attention to how to really run the numbers on a rental. I might have them right but if I do then it isn't really a cash flowing deal so I would appreciate some more experienced eyes on this.

Purchase Price $79,000

Sellers is paying the first $2000 of closing costs

Estimated Repairs $20,000

ARV $120,000

This is two separate homes on the same property both are pretty much identical.

Conservatively looking at $650 a month rent for each so $1300/month income

RDP Insurance $1668 annually for both

Taxes around $1200

I am figuring 5.5% for all loan values

Using about $44,800 on a HELOC and $66,200 on a 25 year amortized loan.

Figuring 30% for all repair, vacancy, cap ex, and property management 

My totals come up to like $46/month cash flow. 

Am I not thinking of something? Am I missing something? We are going through the process of getting the HELOC and loan to purchase at the same time. I wanted to do the BRRRR strategy on this as well but when i figure the cost of just one $100,000 loan over 30 years the cash flow is even worse, I would lose money each month. Any insight in what I am doing wrong would be HUGE and if this actually is not a good rental property tips on what I could do would be amazing as well. I do have this property under contract currently and I am trying to get financing in the manner that I stated above but if there is a better idea I am all ears!

Thank you in advance and I appreciate all the help!