First tenant gave 30 day notice upon lease expiration and new tenant was found quickly, no down time except a week to clean and prep.

I had some down time from my 9-5 and so started looking for deals the week of Thanksgiving.

If your market only keeps tenants for a single 12 month term with one month downtime between tenants, your vacancy is 8.33%.  5% implies that your tenants stay about 2 years before moving out, and each unit is down a little over a month between tenants.   25% vacancy would imply that you have one unit empty every day of the year.  

some of the NO money down Hard money lenders we see have been accused of this.. people pay up front fee and then 500 to 700 per submission only to get turned down time and again because the projects dont meet their uber rigid underwriting so they have a legal way of saying NO and keep your money in the process.. 

Alot of sweat equity when into this one, I DIY'd everything besides the new HVAC system, and the foundation work When it came time for the appraisal, I gave the appraiser my scope of work, receipts for everything, the inital appraisal report at 125k when I bought the property, and also pulled my own comps. 2 Properties Down - Time For The Next Project Property 1- House Hack (low down payment conventional)Property 2 - Live In Fixer Upper (low down payment conventional) 

Most of our units don't turn every year so a week or two down time every few years is not a big deal.

Hey everyonefirst time posting on here and I want to say it's been great to read all the forms and appreciate how this is such a great form to get information.I've been using my covid down time while working from home to focus on getting into passive income generating multi-family real estate investments.

I have a solid job and I actually have down time at work that I’ve been using to get my RE license.

Now, the downsides are wear and tear (solution: parents to co-sign) and seasonality (solution: higher rents saved for those down times). 

If you get any down time during that month or slots where you need something to keep a guy busy, you can go there and work any time day or night".