We are newbies. Please we need some help analyzing this deal.

[Adriana Mendonca]

Hello guys, Please..I hope someone is available to help us out. Me and my son have been analyzing several property lately using the BP calculator ( rental). We are newbies. We are looking into buy our first property. Today we have our first property to see and we are trying to get a better picture on this deal. We are looking for cash flow. The Price asked is $109K, it can be rented for $1350, HOA $265. Property taxes about $1309 annual, home insurance $462 annually. In our analyses we used $ 105K as purchase price (cash)( we will have to borrow about 40K to pay that cash), I enter $3000 for closing costs ( not sure about that ), 5% for vacancy, 5% management fee, 5% maintenance,5% CapEx. The Calculator results are: $668/mo cash flow and $682/mo expenses. Coc ROI 7.42%.

Questions: 

Are we entering realistic amounts? We are not sure about closing costs or, all the other expenses.

Is it 7.42% ROI acceptable/considerable for a first property?

Thank you so very much, standing by

Adriana and Nick