It can run $20k or more, sometimes yearly.Also they can change management companies any time, resulting in additional fees, renovations and style changes to common and in unit furniture.

If you can increase an additional $200-250/unit that might be something to consider.

Added additional unit and rehab current units to increase value.

He was an additional tenant to the lease and knew the current tenants, so after his application was approved he just simply moved in with out notice and or signing the lease. 

In addition, we had to Quiet Title (via courts) because TWO of the existing residents in this unfinished subdivision would not sign lien waivers they had against the former developer who left the road a mess - I tried to take the quick route, but they were stubborn and didn't trust me (I guess?) 

Additionally feel free to send me a DM once you identify a property and we can crunch some numbers. 

Also consider additional wear and tear, occasionally you may have a tenant who will leave a property trashed etc.

So, a 5% reduction is CHEAPER than another month of vacancy!

I also look at capital appreciation, tax savings, cash flow and cash flow appreciation.Where you invest, investment support structure for each property, and additional factors important to your individual decisions all make a difference as well. 

I wanted to see about an additional income stream with turnkey flipping( rehab a unit and sell with a tenant) and possibly keep some flips in the process (a BRRRR style if you will).