You also dont want to put yourself in a situation with lower income homes where the repairs or vacancy will hurt your personal financial situation.  

I informed the landlord as soon as the process began moving forward so he could list the property and get a tenant in there with the least amount of vacancy as possible.

Essentially, all it takes for me to create another LLC is to fill out a one page piece of paper and give it to the bank and title company.So, each property is in its own Serial LLC and insulated from all the others for liability sake.I also utilize just one set of accounts, one accounts receivable checking, one repair account, one tax/insurance account, one advertising account, and one vacancy account.

I think you mean you need a PM to do the initial work of getting the vacancy filled and then you will cancel your service agreement with the PM?

Whether they only examine your house on vacancies or while residing tenants inside your home?

This allows you the time to find replacement tenants without a vacancy. 

Hey everyone,I had a question about analyzing rentals, I see people add the expense of Maintenance, Property manager, and vacancy along with others.

Been listening to the podcast and seems like the big rule is to make $150+ a month per unit after all expenses (mgmt, repairs,vacancy,etc).  

Friend told me rent vacancy is a problem but i think you still end up getting a better cap rate than here in Boston...Any one investing there have any input?

I don't want to walk away, because again, the numbers work as $100/unit cash flow (4 units), after PITI of re-fied mortgage, $16K or so on HELOC, 5% CapEx, 5% Maintenance, 6% Vacancy, and 10% Property Management.