Updated over 11 years ago on . Most recent reply
Factoring Vacancy and Future Repairs
I am trying to acquire my first rental property this year and I was hoping someone can help me out when it comes to expenses that I have to factor in with a rental property. After reading the boards and a couple books I am still kinda confused. So far this is a list of expenses I know that should be accounted for
-Property Tax
-Vacancy
-Insurance
-Repair
-Advertisement
Is that all that is needed? also what is a good percentage to set aside for vacancy and repair reserves? Thank you anyone ahead of time for some answers.