I'm not saying don't do it, I'm just saying make sure you consider all factors and if your numbers long term are realistic. 

TURN OVER kills landlordsfor me if I get a tenant who is good ( when I had tenants) I NEVER raised rents longevity and consistent payments over years of tenancy will beat turn over and raising the rent 20 bucks every time.. plus the simple hassle factor.. that's worth more to me than a few hundred bucks.

Factor in any debt on the property, utilities, furnishings, etc.

I only have a few years under my belt, but I currently use COCR as my primary deciding factor for evaluating a property. 

You also will definitely have to factor in remod costs, almost every building up for sale is around 80-120 years old, lead paint, old furnaces, old doors etc etc. 

You have then increased the value of your home (forever) by adding the living square footage and bedroom and bathroom count.

Whether to have an LLC or not is a complex decision based on many factors.

Your repair costs seem like they may be accurate but the other factors are the problem here, this is expensive for what you get in TX and I'm going to assume that it is in the downtown of a major metro area which is why the price is so high.

It's the same with WOW factors.

Since it is a rental any increase in value will be insignificant so shouldn't really be a factor.