Would there be any excess left over after debt service to allocate for property rehab?

After some searching I think I found I found a possible deal for a buy and hold property, my analysis is belowFinancing80.00%Purchase Price$80,000.00Down Payment$16,000.0020.00%Total Loan Amount$64,000.00Interest Rate4.50%Loan Term36030Vacancy Rate10%Management Rate8%Principle and Interest$323.07PMI$0.000.00%Total Monthly Payment$323.07$3,876.81IncomeMonthlyAnnualGross Income 950.00 11,400.00ExpensesMonthlyAnnualTaxes$65.25$783.00Insurance$62.50$750.00Water$0.00$0.00Trash$0.00$0.00HOA$0.00$0.00Management Fee$76.00$912.00Vacancy & Collections$95.00$1,140.00Initial Repairs and Rehab$0.00$0.00Monthly Repair Allocation$95.00$1,140.00Lawn Care$0.00$0.00Initial Tenant Placement Fee$0.00$0.00Total Operating Expense$393.75$4,725.00Net Operating Income 556.25 6,675.00Less: Debt Service$323.07$3,876.81Before Tax Cash Flow$233.18$2,798.19Cash on Cash Return17.49%Gross Rental Yield14.25%Cap Rate8.34%I went and saw the property today and it is currently occupied by a tenant until next July paying $950 a month.

So that 5% you allocate toward maintenance on a 900/mo rental (which is 45/mo) is only $27/mo at the $550 rent range.

That portion of the profit allocated to the residential use property is eligible for the 121 exclusion, whereas, that portion of the sale profit allocated to the busines/investment use property could become exchange proceeds to be reinvested in another business/investment property.

If you’re a high maintenance owner, unrealistic owner or owner that demands certain items outside of the system then your account is really just not worth keeping not only because the PM is now spending way more time dealing with you but because all other client Owners of the PM now suffer because the PM is allocating resources that they would not otherwise have to inside of their system by having to deal with ‘your way’ of doing things.

. - Has a relative with sufficient levels of cash-on-hand, who might be willing to offer a private loan (~10% ) Profit Allocation - Split 50/50 between partners Challenges -Bank unlikely to make a loan (to fund purchase) on the state the house is in currently.

I will have the option to pull out considerably more than I owe, and to allocate the debt to my personal residence or rental as I see fit.

I'm based in Los Angeles and am looking to purchase my first investment property with about $50K allocated. 

& @Stephen Masek also make some good points about having a solid PM in place.It can definitely be done but make sure you have access to a solid PM, possibly buy in nicer areas (those high returns in the marginal areas are more difficult to manage), and allocate time for larger projects or a disaster.

Random thoughts from a far this looks like a vacation rental or at least one or two units allocated for that could get the cash flow going.The future value is where the jackpot might be.