This reno consisted of more cosmetic but did require some electrical, plumbing, new windows, and roof repairs.  

It's hard to gauge the reasonableness of these assumptions without more info on the property (address or at least zip code, age of the property, condition of the various components such as roof and foundation, among other things).I see you've budgeted $0 for repairs. 

I owe 65k and the value of the home was 90k before I put a new roof on.

All sink will someday leak. 

Purchase price: $123,000 Sale price: $250,000 Updated this 3 br/ 3 bath tri-level home - replaced siding, roof, deck, sidewalk, garage door, front door, all interior doors, all cabinets/granite countertops, all new tile in 3 full baths, new paint & flooring.

I estimated rehab at $90k, but estimates have come in at closer to $105k--the house needs everything except a roof. 

If I go by the 50% rule it doesn't seem to be a good buy but seeing as the tenants are  paying for all utilities I would thing the 50% rule may not apply.The duplex has the original furnaces with central air, roof and appliances.

HOA $- Cap Ex and Ops $300.00 (my minimum is $150/month/roof.  

I do have a 3 unit building on a main st. in a small town and ins. for that property is $114/month.My insurance guy has always used the hail damage situation.....replacement coverage would get me new roofs while cash value policies would mean a big out of pocket expense.

I saved over $20K using this tactic and also got a new roof.