Never, but the banks I deal with love to use 75% vacancy for LTR (stupid, Bozeman has 100% occupancy for LTR, never in my 15 years PM'ing here have I had an empty apartment), and 50% for STR (due to the nature of my market).

@Bryan Witters Sage advice!

i'd go with natural gas if money is not a factor.  

Have you had problems of this nature with Buildium?

Interesting article linked below, and a cautionary one for anyone who considers buying debt in natural disaster areas where the home's value is lower than the debt.

Some of the people I mailed to actually have their places listed, so they naturally called. 

I became an accidental landlord but there was a part of me that was more than happy to let that tenant keep paying off my condo for me.I am a natural saver and after clearing out all my money for the downpayment a year ago I found myself with a good chunk of cash again.

lol)So naturally a few years ago after graduating from school I became real estate obsessed.

I know it sounds great on paper.. and it may work and if this is only 5% of your available cash you can take the risk.. but if this is the majority of your investing cash I say risk is simply too great ... .listen to @Curt Davis sage advice he has been around the block for many years and is not trying to sell U something like all the rest of the folks posting on this thread.

.), where it is naturally attracting a crowd looking for luxury.