@Duane Brown your expenses are light. i use 23% for vacancy,repairs, and capex. Most beginners underestimate capex cost. Example: flooring 1200 sf per side or 2400sf total @ $6 sf= $14400 / 8 year life span / 12 months = $150 per month capex for floors only. You have to budget for roof, hot water heater, hvac, etc.
@Tim Herman thank you so much sir... great information.