You can use First American’s website as a resource for closing cost estimates: https://facc.firstam.com I’d budget 8% vacancy instead of 5% so you have a full month of vacancy budgeted in your numbers.

Looks like the MOST you could make a year would be somewhere near $5000 on this one assuming your numbers are good (See Ramon's comment)  I had a property with margins like this and even the shortest of vacancies and smallest of repairs would ruin a whole year.

I think in general multi is typically going to be safer because you spread your vacancy risk across units.

For the other stuff Vacancy low, property management low, capex REALLY low.

That's a nice payday and can now fund another similar deal to switch to a BRRRR strategy.The rental now has $42k equity and using a conservative 40% for capex/maintenance/vacancy/management (10% each) you now have 1250 x .6 = $750.$750 - $ 650 PITI = $100 profit, but that can be increased if you don't use such conservative numbers. 

Yes but only when all the units are fully rented-currently there are 3 vacancies.

You are missing some expenses like maintenance and cap ex, vacancy for the downstairs arrangement or for the entire place if you plan to rent out the part you currently occupy. 

The first is operational risk, the risk associated with operating the property efficiently, keeping costs in line, vacancy low and income high, management, etc.

I suspect that some of us that have seen 0% vacancy for a while will finally experience economic vacancy for a month or two.

@Guillermo Sanchez What is the vacancy rate?