I know there are the obvious PITIA items but what about property management fees (I plan on using a property manager), maintenance/repair allowance, and vacancy allowance?

You still need a downpayment, closing costs, inspection money, repairs.

You may already know this but as a good rule of thumb if Property purchase price plus rehab is less than or equal to 70% of the After repaired value you are going to be a winner 9/10 times. 

Ideally, along with your mortgage payment, you’d want to set aside funds on a monthly basis for repairs, vacancy & capex if applicable.

Rent $12 /Year - including All expenses  Current owner spent - significant expenses on repairing HVAC - new condenser, Chiller ,Boiler Elevator Repairs 

When i did the rehab I did all the repairs.

Tips include finding multi-unit properties, living in a unit for a year, property management planning, budgeting for repairs, networking with local investors, and focusing on long-term goals.Good luck!

Smaller facilities have smaller operating budgets so any one bigger repair or required maintenance item can blow your annual budget.

However, navigating the legal and financial complexities of Subto deals requires careful attention, so I’d recommend working with a real estate attorney to ensure everything is structured correctly.Securing private money for the closing is a smart move, but ensure your terms allow for flexibility in case of unexpected repairs or delays in cash flow.

Regular inspections and preventative work can save you from costly repairs.