But if they are moving because of too many maintenance issues, that’s something you can (or at least could have) fixed.Think of it this way: Let’s say your average vacancy is two months between tenants (turnover and time to lease).

That was one of the attractive points for me, since several other deals I joined in the last few years have had capital calls due to increased debt costs.One concern I have is that, while they claim vacancy at the property is 7%, I see quite a few listings on apartments.com for the complex that indicate a higher number. 

There will be a vacancy.

With historical vacancy factored in, that will likely be more like $143,000 rent topline, not including seasonal A/C surcharge revenue, plus about $1,520 in laundry revenue.Expenses: Total operating expenses are running about $59,200, before depreciation or mortgage expense, and not including the offsite property manager role (me doing screening, etc).

I am adding value to the deal by renting out the one vacancy.

It's a high risk area, I would expect a lot of turn over/vacancies before you come across a qualified tenant.

How soon do you like to advertise a space once you know a vacancy will be coming available?

Risk Assessment: Consider vacancy rates, potential repairs, and unexpected expenses.Once you're comfortable analyzing a few deals, you’ll be in a great spot to pull the trigger on your first property.If you need help with financing or want advice on what options might work for you, feel free to reach out.

They're just as likely to see higher vacancy rates wiping out any of that growth they are able to generate.2.

I'd say over the last 9 months that lenders have gotten a bit looser with DSCR requirements (scaled with the borrower's FICO).One challenge though may be vacancy on refi's.