You can probably beat $2000/year insurance, but the management fee should be 10%, you need to factor in turnover too and 5% is probably not enough for both maintenance and turnover and I assume you added it, but you didn't mention property taxes (which have been terrible in Jackson County lately since Frank White decided to jack them through the roof). 

I’ll also amortize large items like roof over 20 yrs, and then add $100/mo/unit for general repairs.

Outside we had trees taken down that were going to cause major future problems with the roof, gutters and the view.

Purchased for $69,000, it needed a full rehab, including a new roof, plumbing, and modern updates inside and out.

Purchased for $69,000, I tackled everything from a new roof to interior updates, transforming it into a move-in-ready home.After months of surprises (and a few headaches), I sold the property for $145,000.

Prices are through the roof, Insurance cost have skyrocketed, maintenance cost are up a lot, taxes.

From a leaky roof to a backyard jungle, it was a crash course in problem-solving and patience.I bought it for $145,000, powered through the chaos with a hard money loan, and sold it for $180,000.

I never go off of a flat percentage on anything, I analyze the costs to get to a specific return I target and analyze the risk that is involved. 70% may be an initial metric to see if it is even worth pursuing, but every deal should be evaluated independently based on costs, time and risk involved.

For example, if you are buying in an area that is in are 1980s and above, you might run into a roof that is tile and the paper under the tile needs to be replaced the day you close.

I like good neighborhoods, with sloped tile roofs, stucco siding, built in the last 20 years. 90% of Las Vegas SMF checks none of these boxes.