With one move out every year your leasing fees will add another 5% to your management costs too. 200 is theoretically possible for combined maintenance and capex but probably very optimistic.

I dig Cozy, they offer online rent collection and maintenance requests for free.

Now If I rent it for $500/month that is 6,000/yr and I didn't include other expenses like maintenance.

My third spreadsheet has the same X axis as my first spreadsheet and the Y axis is the amount needed to offset the mortgage based on whether I charge $800/$900/$1000 a room for rent, all the numbers are pulled from the county obviously:Electricity, gas, repairs and maintenance (10%), capex ($200), vacancy rate (10%), sewer rates, water rates, solid waste fee, lawn care, property management (10%).Am I missing anything?!? 

It takes almost 30% just to cover taxes, insurance and management, let alone any maintenance, repairs, or capex expenses.So many reasons why people should do their due diligence.

I researched like crazy over the last 2 days and after all income, costs, taxes including tax benefits, maintenance, vacancy costs, broker fee etc, I expect to get about $200 net income a month for the place.

For example, I budget 10% of rental income for PM, 10% for vacancy, and 10% for capex/maintenance.

I run a very busy practice but I could do 5 mins/day and I already was sent a number for what sounds like a great housekeeping/property maintenance husband/wife team.  

We've found rehab and maintenance is always higher on frame properties.

@Aaron Graves yes that is what I did for this first investment in terms of contractors. 2 of them never answer back. 2 others indicated that they do jobs that are over 100,000 (new developments) and that they do high end maintenance jobs. 1 of them promised to send a quote and never did.