Here's some guidance on buying your first investment property in Southern California or Columbus, Ohio:Down payment:For investment properties, lenders typically require 15-30% down payment on your first investment15% down is possible with excellent credit (700+ score)20-25% down is more common, especially for multi-unit propertiesSection 8 considerations:Pros:Guaranteed portion of rent from governmentPotential for longer-term tenantsMay be easier to fill vacancies in some areasCons:More paperwork and inspections requiredRent amounts set by local housing authorityPotential property damage concernsOther tips:Research local markets carefully - price trends, rental rates, etc.Factor in all costs - taxes, insurance, maintenance, vacanciesConsider starting with a single-family home or small multi-unitBuild a team - real estate agent, property manager, contractorsHave cash reserves beyond just the down paymentUnderstand landlord-tenant laws in your chosen locationI'd recommend talking to local real estate agents in both areas to get more specific market insights.

What does the vacancy look like? 

Just in maintenance, PM, and vacancy expenses the $1800 is mostly gone... not to mention landscaping, snow removal, insurance, prperty taxes, cap ex, etc...

Build in a cushion for maintenance, vacancy, and future capex expenses.

Get it rented as quickly as possible, then hold the departing tenant responsible for the vacancy or 30 days of rent, whichever is less.

As an MTR I can get $2,200 but I need to pay an average of $200 for utilities and an extra $100 for vacancy reserves (I self manage so no increase there).

Tenant Turnover and Vacancy Rates Impact: Rent control tends to incentivize tenants to stay longer, as they benefit from paying below-market rents.

I can tell you that the OSU area is indeed a great choice for investment because of the high demand for rental properties and the limited vacancies.

Or just hold on tight to my standards even if theres a vacancy? 

You have a better handle on reality than an investor who allocated 15% of $800 rent to cover vacancy and maintenance/capex.