It is a SFH so I do not have 24 months of utility records but the average is around $450/month for power and $100/month for water. 

If you bumped each of those up to 10% as well, I wouldn't object.I'm also curious whether you're sure about the electricity, water + sewer, garbage, etc. 

Told him to leave ill do it myself.)Bad sill plate on rear corner (contractor)Replace front porch postsBuild backporch stepsDemo barnInstalling concrete footers under home, laying block and shimming to your jacked levelSetting house back down on blocks and reattaching to foundationRemove floor and portions of subfloor in kitchen & back porch and replacement Window repairTemporary power pole (electrician)Electrical service upgrade, outlet replacement and GFCI Install (mix of Electrician and us)Label panels (electrician)All exposed wiring must be protected (basically just replaced all of it)Replace missing light fixtures (new fans throughout)Build wall in living room to convert to 3rdbedroomRe plumb house and pressure test plumbing (plumber)Install smoke detectors hardwired to meet code (electrician)Water Heater electrical line, and core discharge for water heater under house (plumber)Tear out Old ac unit under houseWindow screensWindow locksBackflow prevention valve (plumber)Fart fan ventilation for bathroomApproved Address Number DisplayedFlaking paint abatement interiorClothes Dryer exhaustPaint Untreated woodRemove all debris, Remove old tiresRemove chain link fenceTreat house for black antsPoly floorsMud and paint wallsAppliancesDoors/locks.Roof patch, remove 12x24 section, cut out rot, sister in new beams, put new plywood & shinglesPiles and piles of new electrical wiring (electrician/us)Sand all walls and spray texture ceiling and walls with joint compoundPaint whole house inside and outNew trim everywhere.Sand the every living hell out of the floors (100 hours of labor + help)Gutters and french drainNew mailboxA/c Unit.

In fact, there's a very powerful retirement strategy where you aim to purchase one property/year on 15-year notes.

College rentals can be extremely powerful, just make sure that you do it right from the start!

Currently shopping around for a power team.

Save up more liquid for purchasing power in the next slump.

Opt for thicker material with a built in pad on the back - it will sound much better walking on it, cheap stuff is sometimes hard to install.We do not follow the fashionable white and grey trend with flooring and stick with medium browns, they have more staying power long term.

Not all sq ft in a house costs the same.Go to your local building supplier, go up and down the isles, and get actual prices for material for kitchens, cabinets and countertops, floors, paint, basic lumber and trims, plumbing fixtures, electrical fixtures. etc...You usually can get estimates on labor from that same source. 

HOAs have tremendous power.