I think the vacancy rate I plugged in is way too high at 10% and $2100 per year.

No ifs and or butts.

For other new people I found this site where you can plug in the address and it'll have the Tax Code and Rate for your desired address:http://www.cookcountypropertyinfo.com/default.aspx

So you have the out of area investor who runs his numbers and needs his / her rehab at 20k when in fact that scope of work done correctly would be 30k but if they plug in 30k all of a sudden their COC and IRR on the calculator does not look so hot.. 

I plugged your number real quick into my spreadsheet and I wonder how you can make this cashflow $200 per month - even without taking capEx and vacancies into account.

And the condensate to make sure it’s not plugged (this only effects high efficiency furnaces, 80% do not have condensates).I  would provide a dehumidifier, but also make sure that I solve the underlying problem as soon as possible.  

You might want to get an insurance quote and plug in better numbers, I pay $700 per year on a sfh for a rental policy.

I'm still plugging away ... cold calling, sending letter AND knocking on doors! 

I got my 1st $100K to invest working my butt off for someone else 45-55hrs / week.  

And the ARV feels inflated...if you have 3-5 solid comps from a real estate professional you may be close...but I would still assume you will get a low appraisal...so plug in $115k to see what happens to the deal...There are also very few lenders that would do a deal like this for less than 75% down...so, look at your down payment, lender fees, and other closing costs closer...assume 75%LTV and closing costs of at least 2% of the purchase price.