Your 6% each on vacancy, repairs, cap ex looks a little low.  

The smart lock allows me to assign codes for different tenants, remove codes when they leave, lock and unlock doors for repair people all without having to be there. 

@Kevin Brenner a couple of questions that can help answer your questions:What is the After Repair Value on the property?

Property is located in the Spring, Texas area List Price $155,000Taxes $4,279/YRRent: $1,550-$1,600We would be putting 20% downInsurance: $1,100Potential Neighborhood fee of $100. annuallyIn my calculation I figured in Property Management (5%) we plan on managing it ourselves but felt we should still build that in.  10% for Vacancy and 5% for Repairs monthly.

Would it just be an average of the comparable minus repairs? 

Yes you should bring a contractor to walk the property to get a sense of what needs to be updated/replaced/repaired if you do not yet have the eye to figure these numbers yourself.

You still have 10% property management, 10% repairs, 10% capex, taxes, insurance, etc.

@Brandon Turner No hard and fast rule as this is dependent on your lender, personal risk tolerance, market, property type and tenant quality (among many things). 

Turns out, the appraisal came in at 750k after repairs!

It is recommended that a licensed electrician be contacted for necessary repairs."