In one town where we had 12 rental houses, every one was sold to owner occupants, not landlords.

Because it causes one to think about the way they invest, the reasoning behind their investments, and the success and failures their investment tactics and strategies have produced.I make a decision to pursue a real estate investment (or really any investment) based on an evaluation of risk vs return.  

Start to evaluate deals based on the income approach and you'll do much better long term investing. 

Carrying on with BGC for all adults 18+!

One thing that stands out is that they all have specialized and focus on a niche. 

If the number is in fact 10% I would not change that number in your calculations.These numbers on vacancies change quarterly, so your numbers should reflect the changes.  

Since you're familar with commerical development, most enginering firms, and attorneys work on both residential and commerical. 

Lenders will want to see those funds deposited in a bank or other lending institution on one or two monthly statements.

It's a tax on the gain.How is this calculated?

@Stacie Telles Assuming you took out a conventional mortgage on the property you won't be able to refinance for at least 12 months.