I am also ruthless with mitigating risk so I am just curious how investors think about risk and leverage in current environment.  I Imagine much of the vacancy risk is helped by a great property manager who finds quality tenants?

The impact on the cash flow is minor and we have no risk of refinancing issues.7: This only works this well in our super low interest rate environment and the appraisal meeting these specs (5-5.5 Cap)8: The funds are returned as a LOAN not income- and if we do it right- the investor rolls into the next one.9: Note- our model is a 30/70  We get 30% of the project putting it all together- the other 70% is what is invested.  

@Mike Bianchi It's a tougher environment to put money to work right now.

You may in fact be responsible for rent until the landlord can re-rent the unit, but the landlord also doesn't get to "double dip" (charge you 3 months rent if s/he rents it out in a month).In practical terms, you may have some leverage as far as mutually agreeing to end the lease, vs. forcing the landlord to evict you to regain possession of the unit, especially in the current environment when the eviction courts are quite backed up.I'm definitely not a lawyer, and you're asking a legal question, so I would urge you to consult one on this.

This isn't inclusive but should give you a good start.

The PM is out a lot of time and money most likely due to amount of time the eviction took especially in the current environment just as you are out money from the damages and lost rent. 

Is this rule still applicable in a crazy market environment like we are in right now.

Interested in what people see as attractive given the current environment.

This isn't inclusive but should give you a good start.

I think you have to get creative with what type of property you are going to purchase within the confines of your budget in this hyper-competitive environment.