Analyzing an investment for cash flow

[Abdullah E.]

Dear Bigger Pockets members,

I'm looking for the homes around Syracuse. I have around 70K$ for this investment. Since it is going to be my first real estate investment, I focused on a healthy cash flow. I will start building my portfolio after experiencing and sustaining my first cash flow investment. 

Closing costs

I always add 10% to the listing price as closing costs. Even it is generally listed around 5%; %3 for agent fee and 2-3% other closing costs, I always add 10% to be on the safer side. 

Current Renter
I'm trying to focus on the properties with current renters. I know there are pros and cons for this but I want to start with cash flow and then start to research real market value for my property. 

Property Tax

This one is generally 2-3% for the area that I'm interested in.

Other Costs

I would really appreciate if an experienced investor or homeowner lists me regular monthly or annual costs. Especially Syracuse is an area gets lots of snow. How much should I consider as exterior maintenance? Is there any fee regarding trash gathering etc? For the interior maintenance I'm planning to work with a handyman who would take care of any need. 

Property Manager

This is second option for me to deal with all maintenance and rent collection. is it correct to have 10% of the rent for this? It would be easier for me to manage the property.

Thank you all in advance for your valuable comments and inputs.

[Nicholas L.]

@Abdullah E.

the expenses are going to depend on the property.  i own a duplex where i pay water and sewer and the tenants pay electricity and gas.

which utilities the landlord pays for vs tenant should be available online, or from a property manager who is knowledgeable.

8-12% is standard for property management.

great questions - keep researching.