The two main cons I can think of are summer vacancies and a higher potential for property damage.

Of course calculating CapEx, maintenance, & vacancies as expenses before acquiring a property are crucial as well and often overlooked. 

Also, with everything going on right now, vacancy rates might even be a little higher.Running the numbers with 10% vacancy and using $950/mo to break that 1k barrier on filters when people are searching, that puts your cashflow closer to $130.

Typically, the like to see at least 15% of the purchase price down.You really want to get this for something closer to $100k, if you don't want to leave any money in the deal.You're very unlikely to find a lender who will refi at 85% LTV as you've indicated in your analysis.Your vacancy might be a little low.

I have a vacancy coming up in less than a week.

Numbers below.4plexPurchase Price $600,000Current Rent $5,950.00Total Expenses including Vacancy(5%) and MGMT(5%) $1784.72NOI $4165.28Cash on Cash 18.9%14plexPurchase Price $1,100,000Total Rent $11,675Total Expenses including Vacancy(5%) and MGMT(5%) $6,148.74Cap Rate 6%Cash on Cash 7.4%**Maintenance fee last year was about 18k, not sure why it was so high.

Cashflow will be about $60 (Mortgage $1,143 – Taxes $183 – Insurance $80 – Vacancy 5% $83 – Repairs/Maintenance 3% $50 – Management Fees 3% $50 Total Expenses $1,589).

Make no mistake about it it is their default even if it's not entirely their fault.When one invests in RE we plan (or should plan) for vacancies, cap-ex, taxes and other contingencies.

When I ask why they most often are saying very long vacancy times.

The U.S. average vacancy rate is 7 percent.