Now you have to look at lost rent downtime, tenant improvements, attorney legal costs, negotiating new leases, tenant rep leasing commissions, etc. to get refilled possibly at the same NOI or LESS than you has before. 

It rents immediately & we have not had any down time between transitioning tenants, many of whom come in on previous tenant referrals.

Doing a little digging on down time too, it seems that my market is relatively hot right now so downtime is rather short.  

But we can pay cash & absorb the downtime & interim operating costs.

As always.... it's best to get a plan of action established before ownership so that you can hit the ground running and reduce downtime.

My mission is to "free up" these monotonous, mindless, and time-sucking tasks through automation.I'd like to get the whole process as optimized as possible so you can spend more time closing deals and doing what you truly want.Also, the hassle of start-up and wind-down times will be at a minimum or even eradicated entirely.So I'm looking for more brokers and agents alike to ask more questions on how I can help optimize their workflows!

Get it in audiobook format if that makes it easier on your schedule (I like to listen during my downtime, the commute).

As it seems always necessary due to having downtime where I’m at now, I might not have this downtime when I change units.

@Bart White  I have some down time and I can take a look at the numbers for you. 

If we could get a rent of $600 per month without rehab costs and no downtime, would it be worth it for calculated cash flow $135 per month?