Four months is good.One property means 100 possibility of a vacancy.

The center is currently fully leased but there were some lengthy vacancies last year which certainly affected the 2019 NOI.

Never had any vacancies even in winter. 

Never had any vacancies even in winter.

I have been looking at data such as  vacancy, average home value/income, crime rate, ect.

I'd set a move-out date for them that allows you time to find another renter so you don't have much of a vacancy period.

As a new RE investor, I don't really have the proper tools to analyze this decision, other than thinking that the potential upside of renting is small compared to the potential downsides of a RE crash, future vacancy between tenants, falling rental prices, falling home prices, etc.

Here's an 8 cap with 10% set aside for PM fees, and 10% between vacancy and capex. 

Don't allow financing or a finance contingency (it can be a good indication they are selling above market value) Don't allow for your own independent property inspection Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors) Require you to pay for any renovation upfront Sell only in cheap. low end neighborhoods Don't accurately represent the neighborhood/property classification Don't have consistent rehab standards for all properties Don't provide a scope of work for the property Can't provide references of repeat investors Require you to close before a tenant is in place

No vacancy expense other than make ready repairs.