You need a good source for local landlord tenant laws, a  reserve account for the unexpected, setup a payment tracking system, find a handyman, set expectations with your tenant about what constitutes a valid emergency, have the tenants sign a "walk through" list with photos of the condition of the house, make sure they have renter's insurance, 

Online forms for tenants, income and expense tracking, auto add late fees (or other charges you may have), rent collection, integration with other applications, ability to store documents, etc.   

Feel free to use me as a resource to verify rents, run cap rates, or need recommendations for insurance agents, mortgage brokers, and/or contractors, etc...

With 5% down do you need to pay PMI insurance?

Really my only other expenses are insurance, taxes and mortgages.

I’ve insured several deals for clients recently where using the “small town bank” helped.

Primary Mortgage Second Monthly Insurance Taxes HOA Utilities/Wi-Fi Def Maintenance Vacancy Estimate

Be careful with mortgage insurance, which can eat away at your cash flow.

@Curtis SharpeThe 95% LTV high-ratio, insured mortgage is available on SFHs and duplexes to owner occupants only ... even then, there are further restrictions.  

Most importantly do you get clear and marketable (insurable) title.