@Max Gradowitz I recently demolished an old house, i priced it at 5k plus bins. the owner went through 7 bins, at 600-700/bin, that's still a 10k ticket. 10k is 10k, I don't know about you but 10k from my pocket is still heavy.

But to me, CapEx costs really have nothing to do with the gross rents, and have everything to do with the useful life of the big ticket items like roof, HVAC, appliances, etc. 

It DOES include taxes and insurance.Your analysis seems to be missing some potential big ticket items including but not limited to:InsuranceHOA FeesRepairs ($1000 per year seems low, that's only $83 per month)Landscaping/Grounds MaintenanceProperty Management (include it even if you will self manage for the time)

Their role is to fix the item on the service ticket they are sent.

I know this is old this this might help. https://www.eventbrite.com/e/investors-automate-your-bandit-signs-on-the-cheap-tickets-29486289285

Some people LIKE to live in more isolated areas, and this house might be just the ticket.

Lawyers love to represent clients that ultimately require them to do nothing but send you a bill.I know that most of the American population either lives in fear of being sued or view law suites like buying lottery tickets but as a landlord you need to get a grasp on reality and take it slow. 

Hey South FL folks,I have an extra ticket for a 3-day Than Merrill's seminar for this weekend (3/26 - 3/28).

Why pay the carpenter $80 an hour to drive to the store... sometimes I have to make them haul back the split/wet boards if they aren't careful choosing though.Some of the other smaller hardware suppliers (Talbert is an example) give you a rebate at the end of the year or other prizes like airplane tickets, etc.  

There are states where it's cool, places where it's as bad as a parking ticket, and places where they either ignore or go gangbusters over it.