Expenses in Rental Income

[Anthony Garcia]

Had a question about expenses.  My wife and I are wanting to buy our rental properties cash.  I know we need to take out insurance, repairs, cap ex, taxes, etc. out of the rent, but is a vacancy expense necessary if we pay cash?  We both have full time jobs, we are debt free and our house is paid off. If worse comes to worse we could pay the taxes on a property if we do not get a tenant.  Would appreciate any input, thoughts, advise, wisdom. Thanks, Anthony