Part of my calculations does figure in vacancy, repairs, and capital expenses.  

That HE loan would make you cash flow negative on the first property, especially considering you are not even factoring in any repairs, maintenance, vacancy or management.

You can use Airdna & other STR estimator tools to get data on potential income/vacancy based on your location and property size. 

You may end up with a little more vacancy today because you stuck to your guns but if your criteria are solid you will have better overall results in the long run and investing is for the long haul.

Demand for February/March move-ins should see a notable uptick sometime in January, but you'll for sure see your strongest rental demand in late spring/summer.Your most recent post mentioned that you were going to look for someone for a 6-month lease - I think this is a great way to approach it to minimize vacancy loss while biding your time until we get into the higher demand summer months.Getting creative with your lease term and credits/concessions could also be a good way to solve a few potential problems in one shot. 

I have turned over all of units multiple times the highest vacancy I'll get us under 1 week becuase property will be up for rent 2 months prior from existing tenants moving out.

The focus should be on eliminating vacancy and avoiding chasing unreasonable rental rates, especially in the slower winter months.Here’s a chart showing the median sales price of a single-family home in the City of Austin this year through November:The median sales price for a single-family home in November 2024 was up roughly 8% from the beginning of the year.

How can I best prepare for managing two rental properties, including handling maintenance, vacancies, and tenants?

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

I'm not factoring in a percent for vacancy, repairs or capital expenses.