Investment Info:

Single-family residence buy & hold investment.

Bought fixed, rented, and cash flowing first property, bought the house 2 doors down, fixing planning ( duplex, airbnb, corp rental it?) th...

., but more importantly we study our specifics market trends and provide information accordingly and we need to also help people understand the basic components of their home and how they operate and what it takes to be a successful homeowner.

Vacancy may need to be adjusted-I'm using 15-20% right now.Well that is what I am confused about... how much cash should I put to the side for unexpected property repairs and personal emergencies? 

Thats a bit greasy at best.Thats all assuming that the reason you are pulling out is not because something unexpected was found in an inspection, which would be a totally normal thing if you wrote that contingency into the offer and did in fact not like the results of inspection.EDIT. if you have made offers on multiple properties and more than you can afford accepted, consider taking on a partner or find alternate financing rather than trying to pull out. if they accepted your offers, I would assume that numbers work.

And you'll have new cracks in unexpected places, old cracks that will not close, but instead enlarge.

There are 3 major components to buying rental property.

I see a lot of out of state investors get burned by buying things in areas that they assumed to be of a higher "grade" than what their results showed it to be.If you end up in the Warrensville Heights portion of 44128 keep in mind that there will be POS and occupancy/rental license requirements in place that may cause unexpected costs to add up quite quickly for you.

Also I already got few unexpected garage and electric issues, so had to put extra cash.  

The 3 biggest components of your closing costs are you insurances... title insurance which is usually around $1200, and then your homeowners and flood insurance.

I feel this will be a safe choice because the first one will be generating about 1200/m and facing any vacancies or unexpected incidents that could be very helpful.