ANXIOUS ABOUT FIRST RENTAL PURCHASE! NEED ADVICE.

[Sean McCoy]

Hi everyone, need advice from you all. Currently looking at a first single family home rental property in a desirable area.

$168,200 sale by owner, turnkey (new reno) 

10% down looking for 30yr fixed around 3.05%

Rent: $1275/mo on conservative side

Vacancy: 6%

Maintenance 12%

Management: would need one, hopefully 7 or 8%

Insurance: $20/mo

Taxes: $116/mo

No HAO or other known expenses… would negotiate for any closing costs on seller and contingent on inspection

Any thoughts or advice is truly appreciated. I know this doesn't hit 1%, but the numbers I'm crunching has Cash-on-Cash return 12+% I do have access to a Doctors Loan, but don't know rental stipulations. I don't plan on living in this home, so no VA loan.

Are my numbers reasonable or way off? Thank you!