As long as your savings continues to build, preparing for the next purchase and keeping you ready for any unexpected repairs.

The last rehab I did, I budgeted 14k (and I've been doing this for a while), but some unexpected things came up, causing our cost to fly past 20 (I'll calculate the damages next April, it's making money now). 

Also, confirm who handles the HOA-related items, it's not uncommon for PM's to not provide this service and it falling back unexpectedly on the owners.

Turned out all my properties I was under my deductable so that was a unexpected 16K expense thanks to Irma.Two weeks ago I got a notice from my insurance carrier notifying me come October my insurance will no longer be renewed due to lack of documentation that repairs had been made.I called my agent and apparently there has been some mix up on their end. 

Can I fund the unexpected capex items, and can I maintain a reasonable level of tenancy.

To our delight we found that by splitting the parcel into four separate lots and attaching these already established enrollments to the new parcels, we could quadruple the total allotted area to cultivate.

The first property you get will have closing costs and need probably several thousand dollars in a "general fund" to fund your advertising, maintenance, unexpected CAPEX, initial vacancy, etc.

The more units, the better chance you'll have of making them succeed and any unexpected vacancy will not be so painful. 

Like it should be 4% rather than 0.04% interest for the refinance 5 - The above^ may kill the deal if recalculated and you're hoping to hold, but also consider if 30k is enough meat on the bone for you if you plan to flip, as you may be paying some closing costs too (depending on your market) when you sell, as well as unexpected costs

We have had some unexpected A/C issues in 2 of the units over the past year.