Always work pm into your numbers as a buffer whether you do your own managing or not. 2% of purchase price in rent is a good place to start for cash flow.

I use that percentage simply as a small buffer until I gain more experience and confidence in my ability to evaluate properties.

I looked at areas that were no more than about a 20 minute drive from my house.Then I narrowed the area down to neighborhoods that were sort of that in between buffer type neighborhood.

I use a 30-year mortgage (as a buffer vs 15 year).  

It's always important to over estimate expenses (to have a buffer for vacancy) to be on the safe side. 

My preference is to get an average for the utilities, add a 10% buffer for tenants that use excess, and then split it by the number of units.Will the single person complain about being billed the same as a family of four?

Since you don't have a mortgage, you will have more of a buffer there against vacancy and higher dollar repairs like a new roof.

The day jobs definitely help with that buffer!

Since you've said you're pretty new to this, I look at Bill's price as a buffer against rehab cost over-runs against your 10k figure.  

I'm open to all ideas and input, the more I know and understand, the better decision would be.Investing out of state, with no REI experience, in a market you are not familiar with, relying 100% on providers you don't know, paying retail (or more) with no extra equity buffer, no exit strategy if the property doesn't work as expected as a rental, and properties that are thousands of miles away sounds far riskier and speculative to me.