I felt I went a little bit high on expenses just in case I even added in CapX, vacancy and repairs. 

This  will leave you with a high vacancy period until you fill the units.

Accounting for vacancies and everything, the NOI is right around $24K so this seems like a great deal.

As we are looking at ways to improve our efficiencies and decrease vacancies, the topic of self scheduled showings is on the table.

Vacancy - not considered, if we do one month a  year, then it wipes out my cash flow. 

I am from Chicago, but I am looking to purchase a vacation rental property out of state what areas have you all had the most success in, in terms of year round vacation with low vacancy. 

And, how much one should have in savings for expenses like emergency repairs that wouldn’t be covered by insurance, vacancies or unexpected capital expenses that might come up before the cap ex fund is large enough to cover them.

Following these businesses opening and expanding, vacancy rates have dropped well below 2% and this market is shifting to a very strong market for buy and hold investors.

On the schedule E under lending guidelines for Freddie/Fannie loans as outlined in Regulation Z  25% of the income reported is not counted (this is to account for vacancies and maintenance). 

Reach out to one of your fellow investors to see if they have any vacancies and then guarantee them the rent for a certain period of time.