If its an older building I purchase, I tend to walk through the property with my contractor to get an idea of the life left of each of the cap ex expenses, and I actually factor the cost into the estimated repair section when analyzing a deal.

Total rental income - 8400Vacancy - 420Prop Mgt - 840R&M - 420Taxes - 848HOI (maybe flood also) - 400Cap ex - 800Utilities - 200Purchase price - 500,000Reno - 150,000Cash flow - 842ROI - 26%Even running numbers more modestly, I'm coming up with a 480 cash flow and 15% ROI.

@Arun Thakur You can leverage RBC, TD and/or BMO for single-family purchases but they are wary about investment properties (ex-pat Canadian here). 

Ex. 10k left on the mortgage, 10k down payment, seller now owns free and clear, seller is now able to owner finance.

FYI- Go to the county or CA websites for specifics, just one EX:"Propositions 58 and 193 exclude from reassessment property that transfers between parent and child or from grandparent to grandchild provided specific criteria are met"

Your numbers look pretty good, just make sure since it is a 1901 house that you have more budgeted for repairs and cap ex. 

I also don't see a cap-ex budgets in there.

I concur with @Mark Rocha, I pay myself rent too in order to cover repairs, vacancy, utilities, PM (which I pay myself to do) and Cap-ex.

As far as this info goes you are missing monthly expenses, cap ex, vacancy, and utilities. 

Ex.