Hey @Joshua Johnson, nice job at being so thorough! Many new investors don't take a hard enough look and end up with a property that doesn't cash flow, so it's awesome that you're doing this much due diligence upfront.
I reside in GJ and have many local rentals, and I'd say that your rent estimate is spot on at $1,200.
Your insurance quote seems a bit high, most of my landlord policies equate to ~$40-$50 / month. You can certainly talk to your agent and they'll give you a specific and non-obligatory quote on any property you're interested in.
The rental market in GJ is pretty great right now with vacancy ranging from about 3-5%, so I'd say your estimate of 10% is a bit too conservative. Honestly I never even have a vacancy on any of my properties, they are always turned over immediately between tenants.
IMO repairs and capital expenditures are very dependent upon the age of the house and it's current condition. A house built in the 70's will certainly need some upcoming repairs if they haven't been taken care of already (roof, water heater, furnace, etc), but I believe that carving $240 out of your monthly cash flow is going to make it hard to cash flow on any deal...looking at this house on Hall it seems to be pretty much move-in ready. Perhaps just budget to replace one large item per year? Just a suggestion though, nothing wrong with being conservative.
10% for property management is pretty common here in GJ. If you have multiple units managed by them sometimes they'll cut you a better deal.
Yep, generally tenants pay utilities on SFH, and be sure to let them know what you expect on yard maintenance (and have those expectations written in your lease). And then be prepared to be disappointed, because most tenants don't have a care in the world about keeping your yard in good shape. ;)
Hope this insight helps!
