There will also be vacancy, maintenance (small budget repairs), and capital expenditures (capex, infrequent large budget repairs), and management expense (either in terms of money or your time and effort.Without further information it doesn't sound too compelling to me.  

We were not adding vacancy rate , capital expenditure and repairs as part of expenses.

Beyond the basic stuff of rents,expenses, and vacancies, I would also ask to see copies of the leases AND to determine Capital Expenditures ask about last updates to roof, plumbing, appliances, hvac, etc.  

Vacancy is lost revenue and CAPEx is just as it reads a Capital Expenditure (comes from retained earnings ... a "below the line" item).

A list of past Capital Expenditures what was bought, repaired or fixed and the date they took place.

Buy one you guys can afford and save cash for side investments as well as other future expenditures and make that lot of yours cash flow!

Here is a long hand template that I'll use:= Analyze Deals: Identify: Property Price: Acquire: Down Payment Closing Cost Loan Transfer Stamps Taxes: Rehab Estimate: After repair value: Income: Monthly Gross: Rent Parking Washer/ Dryer Storage Advertising Expenses: {Fixed} Taxes Electricity Water & Sewer PMI Garbage HOA’s Insurance {$100} Expenses: {Variable} Vacancy {5-10%} Repairs and Maintenance {8%} Cap Ex - {Capital Expenditures} {8%} Management {10%} {Optional} Future Assumptions: Annual Income Growth: {2%} Annual PV Growth: {2%} Annual Expenses Growth: {2%} Sales Expenses: {9%} Totals: Monthly Expenses: Monthly Cash Flow: Monthly Income: ______________ Total Cash Needed: Cash On Cash Return: ROI: Cap Rate:

Will this rent be enough to cover mortgage, taxes, insurance, capital expenditures, vacancy, saving, and management(if you don’t plan on self managing)?

I feel like $60k seems like A LOT for a 1500 sqft house but with replacement of nearly all major home expenditures, perhaps that is close?

$267/Month - Taxes (based on Osceola website)$245/Month - Insurance (based on Zillow listing in Regal Oaks)$145/Month - Cable/Internet (based moneysavingpro.com)$117/Month - Repairs ($1/sq. ft. for Zillow listing in Regal Oaks)$180/Month - Capital Expenditures (best guess)$400/Month - Utilities (10% of anticipated monthly rent)$475/Month - HOA (based on Zillow listing in Regal Oaks)