Investors were scared as the narrative was that vacancy could stay there because these were holiday destination.Memphis population does not grow so much, so the question is not whether people will be able to buy houses, but whether some renters will lose job and get lower pay, putting slow downward pressure on their pay.Memphis blue collars will pay their rent, the risk is more a long term risk that rent (and therefore value) does not increase as quickly as other places.

the vacancy rate in Fremont county is around 1% right now. 

You also gotta factor in water/sewer/trash, insurance, vacancy, CapEx, maintenance, and property taxes to make sure you're hitting that $500 a month cashflow.

I've owned and managed in BPt for 12 years and never missed rent and accumulated less than $3000 total in vacancy in the past 12 years.

On a SFR - you really need to be able to get a high nightly rate with minimal vacancy in order to make the numbers work.

This is the deal on my plate. 5 mobile homes on $230 lots for $65,000Total Gross Income is $600 + $600 + $750 + $760 + $1000 (2.5 year lease purchase on $1000 home) = $3,710Total Monthly Expense: ($230 Lot Fee) + (30 Insurance) + ($75 Vacancy/Maintenance) = $335 x 5 -75 for no vacancy/maintenance on lease purchase=$1,600Net Income: $3710 - $1600 = $2110 x 12 = $25,320 / $65,000 = 39% ROI  The homes are old, and a very little value, but have been renovated/ new ax units, It seems like a good opportunity, I can't find many parks not even allow subleasing.

By the time you paint, make repairs, clean, pay for advertising and vacancies you could be well over 2K or 3K dollars. 

You have to either buy cheaper houses that you can easily afford, or make sure that you have enough cash in the bank to cover any vacancies and large repairs.

CapEx and vacancy will consume some of that over time.

They charge 5% of monthly revenue (rent minus vacancy) as their management fee which I find to be extremely competitive with what others offer.