Have reserves for vacancies, repairs, and closing costs.

My business could then pay the utilities, property taxes, mortgage interest, insurance policy, and home repairs. 

Example 1 - I used to have extensive expertise of automotive repair facilities located in Harris County, Texas.  

Quote from @Sean Spagnola: What renovations bring the highest after repair value?

We also had to do some substantial repairs on the sewer line.

Just as I was scrambling to figure that out, one of my tenants also moved out, leaving me with thousands in repairs and a vacant unit at the worst possible time.I had zero reserves left because I had just paid back the money I borrowed to close.

In simple terms, it says you shouldn’t pay more than 70% of the property’s After Repair Value (ARV) minus the cost of repairs.

Learn how to calculate repairs fairly accurately.

Looking over your numbers I'm surprised a couple of them are so low - mortgage expenses, repairs and capital expenses.

FHA loans are really only best in lower credit and lower down payment situation. if you have the ability to do 5-10% I would do it. if you don't need money for repairs , you could do on the higher end 10%+ but if you do need money for repairs 5% could be good. some lenders will do recasts on loans and you cannot do recasts with FHA.