Always pays to shop around.You may be required to put down 25%.Vacancy looks a bit high.

I can only imagine how much work this was to put together so I ask this knowing full well that it may be a huge lift: Would it be possible to have the next iteration have Insurance, tax, CapEx, and Vacancy for 2010 in addition to 2018?  

The next vacancy we have we'll try advertising via other means.

Agreed with TJ on considering the potential for vacancies and repairs/maintenance now and in the future for both the primary residence and rental investment.

(monthly expenses: debt service $385, tax $83, insurance $166, maintenance and cap x $139, vacancy $70)  After expenses I calculate it would net $547/mo. or $273.50/mo/unit, which seems very good, right? 

There is this huge freshly remodeled house that has been for rent for over a year now. 100% vacancy. 

Looks slightly remote, and could be thinking long vacancy. 

The friend rent check appeared in the mailbox today (without the late fee)  He (owner) is thinking of just avoiding vacancy/eviction hassles and see if friend will sign a new lease in their name. 

Make sure to have a least 1 million in liability, loss of rents, water damage coverage, vacancy coverage, replacement cost if possible, and an affordable deductible.

Expect a learning curve and account for vacancy in the neighborhood you're investing in.