Proper "Exit Strategy" for Investing in First Home

[Isaac Pyle]

Hello BP Community!

I am curious- I have heard all over that people recommend at least one exit strategy when buying homes. What does this mean? Does that mean crunching numbers in multiple ways, being conservative with your figures, etc? Or does that mean saving a lot of extra money in case the deal turns out poorly? This seems somewhat confusing to me, can someone help me out?