@Adam Keffer , I'm assuming this is SFR and the tenant is covering all utilities, lawn care, and snow removal.
- You're leaving out management (10%), which you should always include, even if you plan to self manage at first.
- You're unlikely to get such a low rate on an investment property. Lender may want 25% down.
- Closing costs are very high. Will probably be closer to $4k.
Bottom line: this is highly unlikely to cash flow. I don't see it as a good investment.