A week or two of vacancy is more than worth all of the effort and dealing with the scheduling, annoying your tenants, etc. 

A 5% vacancy is saying your tenant will stay in your property for 20 months before a turnover. 

it really depends on if you have other income to supplement but lets say you decided to live off of your rental income and you decided that you were going to have minimal equity max debt on all your props then I think you look at OK what could be worse case during the GFC some markets saw 20 to 50% vacancy some saw 100 but most were 10 to 20% so take that figure and then decide if you need 6 months or one year.. this of course if you are solely dependent on your rental income for your income and have no other income from any other source.  

This causes lower vacancies, higher rent values & the ability to increase rents more easily.Warren Buffet said it best “Be fearful when others are greedy and greedy when others are fearful.”To be a successful investor it is imperative to not make decisions based on emotion, but rather look at the numbers & trends to guide you to the most rational decision. 

@Warren Ginn How long will it take you to fill the vacancy if they close that location?

They tend to be affordable, but I always found it hard to make the numbers work with property taxes and property management being taken into consideration (plus increased vacancy with 1 bed 1 bath). 

If the deal was already tight and you don't think you could handle a longer vacancy then you may want to delay or back-out. 

I think the lessons learned though for those in real estate especially the buy hold niche is when your providers or financial folks are running proforma's that show reserves for vacancy cap ex etc. that these are not numbers to just think about but numbers that need to move to cash and set in accounts for these exact scenarios. 

But commercial loans will require analysis of a higher vacancy rate, your DSCR is good when stabilized.

We haven’t had any trouble with vacancy so far.