Estimating Rent and Vacancy Westmont Los Angeles

[Gilbert Avila]

Hi All, 

My name is Gilbert and I am fairly new to Bigger Pockets. I am currently pending on a duplex in the Westmont area of South Los Angeles (just south of Century, between Western and Normandie). I have some concerns and questions about how to go about pricing my rental unit. I would be renting out the back detached house, 2bed 1 bath unit with washer/dryer hookups and dishwasher. 

Firstly, what are the best practices when it comes to determining rental rates for such units? Do I reach out to property managers for rental pricing, even though I'd manage it myself? Do I simply look at similar units in the area? Doing so has been challenging because price seems to fluctuate quite a bit. I am also concerned about vacancies. Can anyone tell me what a reasonable amount of time for a vacancy is in that part of LA? I'm sure vacancy duration also has to do with whether the unit is over priced or not. 

What about section 8? Should I be looking into renting through section 8? Pros / Cons? Any thoughts on these subjects would be a huge help. 

Thanks!

Gilbert