You might not have any expenditures but you need to know how much to save.

I am definitely reworking the numbers, I plan on reviewing the property in detail before closing so that I can get a good idea on life expectancy for the cap expenditures. 

If it's turnkey (everything is new or just a couple years old) then your capex expenditure shouldn't come around for several years.

I also believe the calculation to this point does not include capital expenditures.

Be sure to put some of the rent into a cap x reserve (Capital Expenditures AKA "reserves") just in case something bazaar happens like a Pandemic!

I see though that Pennsylvania offers some credits on property taxes paid and that amounts vary widely from one location to another.I would double check sense could have a major affect on your cash flow.I also see that you are not allowing for any capital expenditures that will surely come up over time.

Have you factored in other costs (vacancy rates, repairs, capital expenditures, taxes, ect) into overall loss you want to take?

You should.What if you need to do a capital expenditure?

Capital expenditures and improvements will happen.  

Your own calculations arrive at $800 - $342 before any allowance was made for capital expenditure, so in this case I would expect a 50% expenses estimate over time to be fairly accurate.