I do not factor in PM for my CT properties for reasons very specific to my situation.  

However, I do get calls for major plumbing repairs, air conditioners, and hurricane damage - hence the need to factor in maintenance.

I think it depends on a number of factors e.g. type of investment.

For college rentals in Norman, OKC, or Edmond I factor in 8-10% vacancy as a standard, but that can be lowered using some tactics. 

Where I am worried about is having a high minimum monthly payment after I, lets say, purchase a $100,000 SFH all cash.Let me give some more data:Draw period = 5 years; where at the end I can either re-apply to extend the credit, or enter repayment period of 15 yearsInterest (as of today) = 5.75%Min monthly charge factor = 1.0748% of unpaid balanceSo with the example of $100,000 SFH purchase, at month #1 my payment would be $1,074.80.

Notes sound like a good idea as well but I have not got the time to dive very deep into learning about them yet.Here is some of the things I have done in the past month.I have read the books Rich Dad Poor Dad, Cash Flow Quadrant, Think and Grow Rich, Rich Dads Guide to Investing, Face the Fear Factor by Jack Miller, Flip Deals by Jackie Lange, and 5 Best Ways to Make Money with Real Estate.

That said, for an all-cash transaction you can negotiate down to $750 or $500. don't forget to factor in all of the other possible fees, depending on who is paying for what in your contract:Title insuranceTitle search feeSeller document preparationGovernment recording chargesTransfer taxesElectronic record fee

So I had a little comfort factor with "boots on the ground" with someone who knew the area really well.Best wishes to you, and welcome!

@Fan Bi, I guess not :)  But don't worry, the location of your QI is not a factor that should prohibit you from completing a 1031 exchange. 

I've found the biggest factor is proper pricing.