With Vacancy of 8%, Repairs of 8%, CapX of 10%, insurance of 11%, and property taxes of 11% you have 48% in non-mortgage related expenses, which would be $348/month (725 * 48%) PLUS mortgage/taxes/PMI of $384 as stated in your calc, that brings your total costs to $732, putting you at a negative $7/month in cash flow.

I know that you would have to get the owners consent written into the lease and you would have to secure short term rental insurance.  

I just purchased my first rental property and I'm wondering what apps or software you use to keep track of the incoming rent, along with expenses of taxes, insurance and repairs?

Houses in the immediate area with the same square footage are renting for $1700 min. the taxes are $4000 & insurance is a little less than $2000

@Steve A SpannSome thoughts:To get title insurance for tax sale properties, you often need to take additional steps.

I was renting out the other side for over $200 more than my monthly PITI (Principal, Interest, Taxes (property), and Insurance). 

I would call an insurance agent that offers flood insurance and see if it is insurable and the rate.  

Some of your costs like utility, insurance, tax expense will go up with inflation, but so will your rent. 

(In advance I know some of the variable expenses are fixed and the fixed are variable.)Fixed expenses: Electricity .04653 Water and Sewer .0167 Garbage .0352 Property taxes  HOA's .05 Heating .045 Monthly insurance .024 PMI .01 Variable Landlord expenses Vacancy rate .06-.09 Repairs and maintenance .02 Capital Expenditures .08 Management fees .083 Depreciation (1/27.5)My question is this.

My problem starts with health insurance which I need because of medical reasons and need to stay on BcBs.