Main expenditures will be infrastructure in most cases.

But I need it so that at least it cash flows with some cushion -- including work capital expenditures into the equation.

When you say cash flow you probably mean mortgage payment, taxes and insurance, how much are you setting aside for capital expenditures, regular repairs, vacancy and management fees? 

(Vacancy, Maintenance, Capital Expenditures, and Property Management) With this new acronym we could quickly clarify cash flow discussions.

What I mean by that is buying right, vetting your tenants correctly, not ignoring repairs and/or initial capital expenditures, and setting up correct systems and boundaries with your tenants.Good luck!

The forecasted costs are things like maintenance, capital expenditures (roof, driveway, etc.), vacancy, etc.DISCLAIMER: I'm doing math in public before consuming my coffee so these numbers may be wrong!

What are the numbers if you account for capital expenditures, vacancy, repairs, taxes (maybe?

However, once they take into account mortgage, taxes, insurance, repairs/maintenance, and capital expenditures, their home is not going to cash flow. 

I initially analyzed with the following information and the property yielded a ~$420/mo cash flow and a ~15.7% cash on cash return:Purchase price: $121,200Closing cost: $7,800Loan: I am putting 20% down for a 30 year loan at 3.625%Estimated Rent: $1,400 Property tax: $135/moInsurance: $54/mo(Assuming 5% Vacancy, Repairs/Maintenance, Capital Expenditures and 10% for a Property Manager)At first, this property seemed good on paper until the inspector said that the AC, furnace, water heater, and roof are at the end of their life and will need to be replaced in the near term.

Some area's the rental income is as low as 0.6% - 0.8% of value and if you do the due diligence there is not enough in the rent to set aside for keeping you at the recommended minimum 50% expenditures.