Is there a time frame before you can refinance the property @Dan Barli ?  

If you're adamant about being a rental property investor in this phase of the market, seek high yield in lower appreciation markets out of state. 

I don't know what a good vacancy rate is as opposed to a bad one.. but if your managing 2k to 10k houses I suspect your always have some manner of vacancy.. the main take away for me is you simply cannot buy property in the "cash flow markets" were your buying in the lower third of the economics of a given MSA.. those are just tough for whatever reason history has proved this.. most of the buyers have only them selves to blame here.. they are all mesmerized about COC returns and take risk they just don't understand.. then they blame the tenant and the asset.. when in fact its their own choices that lead to the inevitable in low value asset or bottom third in price point in a MSA..

I lowered rent to $975 on FB and it's $1000 everywhere else, I'm getting roughly equal leads. 

This is specific to single family homes, so you could definitely lower these amounts, especially CapEx, for a condo where most of the major expenses will be covered by your HOA.  

I use it as a short term revenue filler while I'm looking for long term tenants who are much lower maintenance.

My goal is future income when I am not earning a paycheck, and paying off the mortgages in the shorter time frame meets that goal. 

To some investors that may be too many unknowns to want to take on.I say this with probably a whole lot less experience than other investors on here but i have 2 duplexes and two SFRs in Cleveland as rentals and I have had the (very) unfortunate experience of trying to get renter in the November December timeframe in Cleveland.

They regrettably are also often of a lower class due primarily to level of intelligence. 

In which case my down payment would be much higher, my interest rate lower, and my closing costs lower as well.