What would be the holding period in this case?

Capex is wildly variable, but I'd go with at least 3.5%, playing off the 27.5-year depreciation rate for residential properties...but that's only AFTER the initial period, over a very, very long period, if you are tightly controlling costs. 10% is more reasonable, and some years, especially early on with delayed maintenance, it'll probably be 100%+. 

Offers are generally negotiated sight unseen with a due diligence period written into the contract. 

We were able to negotiate a 12 month interest only period with our lender to help facilitate the value-add process.

Would it be during the inspection period or maybe if I needed to get some repairs done in the future?

@Griffin Francis EatonIf the price is too high to pay cash, it’s too high to buy period.

Put the partnership through a healthy trial period.

But what I have been seeing was 6-9 months of non-revenue periods just in the pandemic period. 

I will base the following example only on lost income due to vacancy over a ten-year period.

I decided on 2 week inspection period.