Seems like you haven't factored in maintenance, cap ex, lawn care, property management, or vacancy. 50% Rule says $1,800 in expenses additional to your mortgage payment.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Annual gross income $63,420.Cash flow $50,827Operating expenses: $12,593 as follows: Property Taxes  $4,123 Insurance   $2,201 Water/sewer   $1,184 Heating   $773 Hydro   $2,859 Lawn   $875 Maintenance   $578

Insurance $709- Garbage $225- Lawn $150- Utilities Tenant paysI have not had the place inspected, but I've seen pictures and figure around 15k in initial repairs.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

what about water, gas, trash, mowing the lawn, etc? 

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

You could have a multifamily where you pay heat, electric, water, garbage, lawn, snow and repairs happen every month, with vacancy once a year.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.