My first deal analysis, please critique (Dallas)
For my very first deal, I'm considering going turn-key through a PM. He sent me a list of 5 and there's one I like, so I'm trying to run some #s on it to see if I have learned anything.
It's a 3/2 newly updated all around, good B neighborhood with good schools for $155,000. Rent-o-meter shows $1300/mo.
Prop taxes $223
Insurance $67
PM $95
Advertising $54 (half month rent/12)
Maintenance, capex & vancancy I said 8% each, so $312
Total Expenses $751
Mortgage payment $523
So cash flow before taxes of $26.50/month. Thoughts? Anything I'm missing?