Vacancy I factor at 5% of rent per month but I'd ask investors that are doing well in the area you're looking into what they factor. I

Even though the property is very cheap, I dont foresee much appreciation and would bet on a high hassle factor. I

I am strongly consideration going the route of purchasing distressed and/or vacant properties (commercial, factory, warehouse, multi-family, etc.) for development in an effort to restore neighborhoods. 

The rate, although important is not my main decision factor. I

I’m happily unmarried with no kids. 38 with 18 years as a factory rat at ford mo co.

Good times....I used to think it was cloudy too until I realized that it was always clear on Sundays - that's when all the factories are shut down.The pool and gym in my complex were closed daily from 11am-1pm so as "to give people two choices - a morning or afternoon session - instead of just one". 

I will now be paying more attention to that factor.  I

Thinking about your situation in the same manner you have 62k in equity and make 2500 per year (2 months to taxes and insurance) it would take nearly 25 years to get back that 62k assuming you do all the work yourself and a 0% vacancy factor.  I

I recently used on to take on a cover in a dishwasher which according to the instructions was factory sealed.

The competition is definitely a factor, I am just drawn in by the lower TCO of the properties.