I set up as much automation as I can to minimize time: automatic bill pay for re-occurring bills, grass cutter on schedule, tenants deposit rent into bank account, late reminders to tenants via text around the 5th of the month, eviction of non-payers on the 10th (or pre-determined date), and my jurisdiction allows via FAX.

This is assuming you don't have a predetermined time horizon to sell the house.  

If you click on the footnotes, you can learn the actual code, if you ever need it or want to read it.In case someone here is curious, the following is cut and pasted from the CA Dept of Consumer Affairs website:http://www.dca.ca.gov/publications/landlordbook/li...Late fees and dishonored check fees A rental agreement cannot include a pre-determined late fee. the exception to this rule is when it would be difficult to figure out the actual cost to the landlord caused by the late rent payment.

I'd rather buy that house for "cash" and pay up the nose for financing with a pre-determined "exit" strategy ( or huge cash flow rental). 

If you are valuating SFR's focus on  other long-term plays like debt pay-down, equity, and tax benefits...Not discouraging your valuation..practice helps...but your vacancy loss is pre-determined as a component of GOI...it's not an operating expense...and capital expenditures are what they are...again, not an operating expense (and 15% may be excessive...).PM me or feed me a couple of your property addresses and financials and I'd be glad to help you sort these out. 

It's grabbing a few data points and building a pre-determined narrative with selective data.

Can be 50/50, 60/40 or a predetermined amount such as $500 or more.The simple answer to your question about how does the investor make money. 

If so, there should be pre-determined agreements as to how a broken lease works, eg: you keep the sec. deposit and last month's rent.  

The same rule applies though - work through the numbers and decide if you believe you can rent, lease-purchase or sell the property within a predetermined period of time while mitigating risks and knowing your exit strategy.

He can schedule all of his showings around the predetermined time.