The vacancy rate in LA is low, proximity to the college combined with high rental prices, make me excited for it's rental potential.

Also what’s your reasoning for budgeting 3% vacancy rate?

Condo for 125k, basically turn key ($1k repair), a month ago could likely rent for $1400 giving me about 8% cash on cash return (after 5% repair & 5% vacancy) and monthly cash flow of $230. 25% down payment ($31k) is being paid with a cash out refinance on the equity in my primary.

The rent reserve will cover vacancy and capital repairs. 

I have sufficient reserves to carry costs and it looks like there will still continue to be some revenue from bookings albeit at lower rates and more vacancy than usual.

I'd rather offer them goodwill and have them work with me and pay their rent with the upcoming stimulus, than feeling that they'll just go ahead and wait out the eviction or just move (without notifying me), because it'll be hard to fill any vacancies right now.

So, we didn’t know much about running numbers, ROI, vacancy rates etc What made you interested in investing in this type of deal?

You would hate to have a vacancy for a month or two if you raise the rent too much at once unless you know you can get someone to move in immediately at the desired rate.In a nutshell... what are strategic plans? 

Sometimes, when  you have lingering vacancy, or want to avoid that, it seems worth the risk, and sometimes it can work out... my take away is a reminder to evict sooner, especially with high risk tenant, maybe minimize the pain in the event the risk doesn't pay off.Anyway, best of luck and much prosperity!

Also, make sure you are taking into account maintenance, CapEx and vacancy in your numbers.