Beginning Stages of Owning Rentals

[Zach Schaar]

I am planning on purchasing a rental property soon. I must ask, has anyone ever had a rental property in which things all of a sudden go wrong and you did not have the funds to fix properly while tenants were in place?

This may seem like an odd ball kind of question, but I ask for my own protection. I am reluctant to buy my rental at this point in time because after that, if something were to happen, I don't know that I would have the money to fix it.

Does anyone else have or have had these concerns? What's the best way to manage these thoughts and concerns? Good experiences? Bad Experiences? Let's hear em!