The property was vacant until just a few weeks before I purchased it so we had very little to go on to determine what utility costs might be and of course we underestimated... such is life.

You can start with Rich Dad Poor Dad, The Book on Rental Property Investing, Set for Life, the ABC's of Real Estate and that will give you a good start. 

Set for Life by @Scott Trench.

Depends on location, condition and price.Sometimes you get a good tenant before the previous moved out, sometimes it takes few months

I like how you already decided on several important steps in your life.

Show me your capex plan for the life time of the investment.Here is what I sometimes ask an overly excited out of state investor: if it would be that great, why do you think the seasoned local guys with the deep pockets are not all over it?

I have been a part of too many crazy situations in my life.

I have lived overseas for most of my adult life and just moved back to Texas.

Tenant erected a 12 x 12 outdoor extendable living accommodation shed in the backyard without any permission installed permanent tiles, ran wiring in the shed for lighting, fans, for electrical devices and also for air conditioning.

Read Set For Life to get started.