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CV2- I think you are perhaps neglecting to include the following in your calcualtions..
1) Assuming 100% occupancy rate? Try running numbers at 70%
2) Insurance costs?
3) Maintenance costs- both routine and costs incurred between renters
4) Risk of increasing HOA costs as well as any special assessments?
5)Any Mello-Roos costs?
6) Don’t know the area but property taxes seem low