We plan to sell one unit at the next vacancy.

After 2 years, refi and pay the investor their initial investment + 10%.  4-unit apartment building (all units 2 bd/ 1 ba)3472 Sq FtRent: $740/unit/mo Price $ 195,000.00 Down Payment(%) 20.00% Down Payment($) $ 39,000.00 Closing Cost $ 9,750.00 5.0% Estimated Rehab $ 10,000.00 Total Invested $ 58,750.00 Principal $ 156,000.00 Int Rate(%) 4.50% Loan Term (Years) 30 Mortgage $790.43 $ 9,485.15 70% Rule ARV $ 292,857.14 Income Rent ($) $ 2,960.00 $ 35,520.00 Estimated Expenses Expense Monthly Annual Vacancy (5%) $ 148.00 $ 1,776.00 Prop Manager (10%) $ 296.00 $ 3,552.00 Utilities (100/mo) $ 100.00 $ 1,200.00 Prop Tax (3%) $ 487.50 $ 5,850.00 Insurance (100/mo) $ 100.00 $ 1,200.00 Repair/Maint/CapEx (100/unit/mo) $ 400.00 $ 4,800.00 Landscape (60/mo) $ 60.00 $ 720.00 TOTAL $ 1,591.50 $ 19,098.00 Cash Flow Tot.

After 2 years, refi and pay the investor their initial investment + 10%.6 unit (all 1bd/1ba) Property - 3950 Sq Ft  Price $ 190,000.00 Down Payment(%) 20.00% Down Payment($) $ 38,000.00 Closing Cost $ 9,500.00 5.0% Estimated Rehab $ 5,000.00 Total Invested $ 52,500.00 Principal $ 152,000.00 Int Rate(%) 4.50% Loan Term (Years) 30 Mortgage $770.16 $ 9,241.94 70% Rule $ 278,571.43 Income Rent ($) $ 3,300.00 $ 39,600.00 TOTAL $ 3,300.00 $ 39,600.00 Estimated Expenses Expense Monthly Annual Vacancy (5%) $ 165.00 $ 1,980.00 Prop Manager (10%) Self Manage Self Manage Utilities (100/mo) Tenant Pays Tenant Pays Prop Tax (3%) $ 475.00 $ 5,700.00 Insurance (100/mo) $ 120.00 $ 1,440.00 Repair/Maint/CapEx (15%) $ 400.00 $ 4,800.00 Landscape (60/mo) $ 60.00 $ 720.00 TOTAL $ 1,220.00 $ 14,640.00 Cash Flow Tot.

Vacancy and repairs All you can do is guess .  

I’m kinda wondering why he didn’t ask if we had any other vacancies.

I believe the housing shortage and low vacancy rate is a bigger influence.  

With that price point, you will not be hit too hard with vacancy.

How much will you set aside for capex, vacancies, advertising, etc? 

You'll get the best candidate pool for the vacancy.

The good news is that vacancy in Boise is around 2.5%, so you should have a good tenant in there within a week or so, so this shouldn't cause ongoing stress.