Utilities altogether is about $250 a month, internet is $90 a month for the 1T fiber (we want fast internet for 6 people), 5% vacancy, Lawn care $120 a month, Pest control $30 a month, and we do bi-weekly cleaning of the common area at $200 a month.

Quote from @Addy Chupa: When analyzing deals, I usually include a 5% vacancy factor and 5% repair factor based on annual rent.

This helps you identify which factors drive the best returns and make confident, informed decisions.It’s also important to test your numbers with scenarios like higher vacancies, unexpected expenses, interest rate changes, or rent adjustments over the years.

Vacancy takes about 30 to 45 days for me to fill.  

That said, do your calculations for cashflow include setting aside 15-20% of monthly rent for repairs, CapEx, vacancies, etc, etc?

Ensure the STR’s projected income comfortably covers new debt, even with conservative occupancy rates, and maintain reserves for market changes or vacancies.

Sometimes they find a renter that will sign a lease for a high amount only for the renter to default leaving the owner eating the vacancy. 

I could just put it in that box of my spreadsheet to account for the expense and then in most other ways, it's the same issues - capital savings, maintenance, vacancy, etc? 

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.

You might look at vacancies on FF close to your location to get a feel for what the market is.