In some research recently, I have noticed a measurement of bps as it pertains to Vacancy.

It doesn't account for expenses so it's not reliable measure of much of anything.)In this case it's counting how many year of rent collecting would it take to get back the initial purchase price of $45,000. (2.88 years X 12 months = 34.5 months X $1,300/month  = $44,928.)Hope that helps!

Cap rate is a measurement of market sentiment.  

So IRR or return on equity are better measures. 

However, if you own one or more properties with *considerable equity* that does add a measure of safety as you can sell or do a cash out refi if/when you get in a bind.

I measured the stovetop upside down on top of the countertop and traced it to ensure proper leveling and space.

Contracts closed is what you need to measure to evaluate your marketing efficiency.If your contract closed rate is 1% 2 % 5%... do you REALLY think you are doing good marketing?

There are intangible benefits to working with a great mentor that cannot be measured on a spreadsheet.With that being said, shop around.

Read this book first - https://www.amazon.com/Every-Landlords-Property-Protection-Guide/dp/1413307000 - before getting into more complicated and expensive measures of protection.

Have your qualification criteria set before you accept your first application, and measure every single candidate against that criteria.