But vacancies are much higher than typical for the area (13% vs. 4% currently), and actual expenses not including vacancy are 58%.

It can be extra money that may be used in a emergency when something happens with a rental property like a vacancy. large repair, etc ...

Utilities, maintenance, property management, legal fees, grounds maintenance, and vacancies.

Even though there has not been a vacancy there will be.

Vacancy rate is 17%3. middle to low class income area4. mostly retired people.Based on this information my options are:A. to purchase 2 manufactured 3/2 homes (one for each lot at a cost of $39k each) to re-sale for $80k each (after selling and other cost) I estimated a $40k profit. the negative part of this option is that based on my research, manufactured homes may not sale for that high in this area.B. to purchase 2 mobile homes for $5k to $10k each and resale at cost just to recuperate the $30k of the land, cost of Mobil homes and any other cost.C. will be to do option A but to rent each for $500 to $600 per month based on what I can get for Section 8 in that area.Please let me know what you think or if you will consider another option.Additional facts:1. this will not be a 1031 or like kind exchange (based on IRS info)2.

However, there are repairs and vacancies, so I'm calling it a wash.So I need another $1400 per month, which can be accomplished by buying two more $60k properties yielding $900 per month each, minus $150 each for taxes and insurance.

The rent and vacancy rate in this area is incredible; however, finding the deals is the tough part.

His net rent before we turned it into shared housing was about $500 a month when it was rented not counting repair & vacancy costs.

How about vacancies and property manager fees (even if you don't use a PM)?

's comment after you have determined the rental market value you need to plug more numbers in to this "deal" like vacancy, property management, leasing cost, maintenance, etc...Be clear on your criteria of what does represent a great deal for you, and review the numbers.