If you are only making 1,800 a month on it then using all the rules if thumbs and just some basic math anything over 180,000 is too much.  

Depreciation is just a simple math problem especially for a single family.  

If re-assessed at $1.5mm...the math doesn’t work.  

It’s worth doing the home work because the prices are better and a lot of military will rent there.

I think that perhaps you're in the novice stage of education so I think reading and doing some GC homework would help with the process.

Are you already going through the purchasing process or is this just doing your homework?

I am a bit too good at math and a bit too honest for the trade.

If the math works today, it will always work. 

On 10% down, the principle, interest, taxes, property insurance, and mortgage insurance usually totals to around 1500 per month.So according to my math, I estimate that I need 500 more per month to cover maintenance, vacancy, eviction, water, garbage, umbrella insurance, etc.?

Rates are low now so I'd try to lock in those rates ASAP.While personal residences often do not make good rent properties, it sounds like the math works in you case.