I don't like using percentages for those numbers because a house renting for $1,000 is going to have the same (or more) capex and maintenance expense as a house renting for $2,000 that's the same size/age.Vacancy you are usually good with 5% and property management will be 8-10% depending on location/rent of the house.If you are new you will likely have an inspection contingency with your offer, so you can re negotiate or back out of the deal if after the inspection things aren't looking as good on the property as you anticipated.If cash flow is your main focus though, you may want to look at multi family over single family.

Ohio is also landlord-friendly, which makes it much easier to manage rentals.

I need a property manager in Toledo Ohio.  

Yes, we can help draft the management agreement.

This would give you the better cash flow and experence with owning/managing connected units in an easier entry and exit point. 

Property managers — if you’ve handled both residential and commercial spaces, what’s been your biggest surprise in switching between them?

Study the process before you study the dealsNew construction is all about sequencing and managing risk.

Lower entry points, growing demand, and better cash flow potential depending on the setup.If you're exploring multifamily, it’s a bit tighter.

After some research, we’re planning to start by purchasing a small multifamily property in Columbus, OH, using a buy-and-hold strategy; although we’re open to recommendations for other markets where this approach could be successful.If anyone has any general advice or referrals for agents or property management companies in the area, we’d really appreciate it.

Like others mentioned, if you’re able to house hack living in part of the property while renting out the rest, that’s often the fastest way to start building equity, cash flow , keeping expenses manageable, and learning how to manage a property.