If you then don't account for PM (I wouldn't recommend this by the way) then you can add in another $240/month and get up around $850/month which is pretty close to what you are figuring.If your numbers are all accurate and not "guestimates", and your rehab truly is just minor touch-up, then this looks like a great deal. 

BP members, I am looking for a good handyman who can help me with paint touch up and replacing faucet and toilet, etc., Your referral is much appreciated.Regards,  Joie Wang

Can touchup if less than that. 

One side of the duplex just needed cosmetic touchup (paint, flooring, etc.).

He refused the advance rent but let me improve the house; I only did some touch up work, nothing major.I'd do some due diligence, check references, try to ascertain where their funds come from, and then use your risk-o-meter to make the decision.  

Its just some drywall mud and touchup paint to fix.

I bought a 3 bed/2.5 bath house in Jonesboro, GA with a finished walk out basement on 2.5 acres, 2 car garage, and large decks for $22,500 in 2010 that needed a new refrigerator and touch up paint.  

@Bruce @Bruce Woodruff Countertops and small touch up stuff.

Easier to touch up/match with the passage of time.My guess is that grey will fade or darken with time resulting in having to repaint entire rooms as opposed to touch up between tenants.

Touch up matches better with good paint.