At least in my area, it's cheaper to own a condo with the HOA dues than it is to pay for all the utilities, snow removal, waste management, maintenance, etc, that goes along with an SFR.

Adding the current mortgage and utilities would be roughly $1,350 resulting in a profit of $650/mo.

Just because the costs might be in the furture does not warrant not budgeting for those known expensesThen there is the misc costs of asset protection, bookkeeping, unexpected utilities (such as between tenants (tenant turn over) or failure not attributable to the tenant such as slab leak).  

You will have to gather more accurate operating costs (vacancy loss, taxes, utilities, insurance, mgmt fees, maintenance, HOA) to best determine potential future performance.

In my experiences, I have chosen to lease my own properties, but did have a PM for about 18 months or so, at one point.  

I can do all the due diligence beforehand, except the soil I have bought a ton of land at auction and tax sales over the last 40 plus years..

Implementing water-saving initiatives is a smart way to reduce utility costs.

If you have high holding costs (financing, taxes, insurance, utilities, etc.) the longer you are holding the less money that you are makingSelling profitably - How long will it take to sell?

Originally posted by @Kelly Watkins:Residential developers in Wichita pass the cost of the neighborhood utilities (sewers, streets etc..) onto the buyer.

We do a ton of them here in Chicago and everyone of them is a great long term success!