Factoring Vacancy and Future Repairs

[Loc Nguyen]

I am trying to acquire my first rental property this year and I was hoping someone can help me out when it comes to expenses that I have to factor in with a rental property. After reading the boards and a couple books I am still kinda confused. So far this is a list of expenses I know that should be accounted for 

-Property Tax

-Vacancy 

-Insurance 

-Repair 

-Advertisement

Is that all that is needed? also what is a good percentage to set aside for vacancy and repair reserves? Thank you anyone ahead of time for some answers.