On the flip side you will need to research the demand for the unit in the future, Business/commercial real estate has a much longer vacancy period than housing rentals.

On the financing end we've been subject to FHA's self sufficiency rule for as far as time spanned but recently in early 2016 they (HUD/FHA) changed their 100% income SS rule to be more realistic and added a 25% discount for repairs and maintenance + vacancy.

Is it so difficult to fill a vacancy in your market?

But if i need a down payment of 3% plus repairs costs and a store of money for vacancies, this all adds up.

Might I suggest you advertise right away. you want as little vacancy as possible.  

Haven't yet factored in vacancies ( I'd expect at least 5-10%), especially if any folks are turned off by the new ownership and increase in rents.

I've never had issues filling vacancies, and I've always ended up with tenants that were financially sound going into a lease.I screen to the fullest to put me in the best position as a landlord.  

I did it within 90 days (Sort of) Items Standard Cash Flow Actual Cash Flow Purchase Price $47,000 $47,001 Repair and other costs $6,500 $6,500 Total Cost $53,500 $53,501 Cash to close $13,375 $53,501 Monthly Rental $920 $920 Mortgage (25% down 30 years) $185 $0 HOA & CPA $38 $38 Insurance $50 $51 Property Tax $142 $142 Mgmt (10%) $92 $0 Vacancy (5%) $46 $46 Repairs (10%) $92 $92 Sub Total of Monthly Maintenanth $644 $368 Monthly Income $276 $552 Annual Income $3,310 $6,621 Cap Rate (Net income / purchasing price) % 6.19 12.38 Cash on Cash % 24.75 12.38Photos.Lessons Learned#1.

next to the parameter queues that give suggestions. 5-10% is the standard used for vacancy on these boards.

With that said, 74700 yearly revenue and 50% expenses is typical (tax, insurance, vacancy, property management, utilities, repair, capex etc).