People lose jobs, people split up, people get sick or in an accident.

That doesn't give much wiggle room for unexpected expenses (or expenses that are more than your estimates). 

In Florida, Teen killed in motorcycle accident  ( highly suspect that his plan to claim on insurance went awry and strong prescription painkillers involved).Single person occupancy and he was the only person on lease.He was in the midst of moving out, but left behind starving animals, drug paraphernalia, junk.Now multiple strangers are driving around and selling off his 6 vehicles and have been staying in the house after his death. 

I was charged with a dui after an accident.

And if one year you unexpectedly need to replace a roof and a furnace, that place needs cash instead of generating it.So I'd be curious about how much you have to invest and how much you need to gain in monthly cash flow. 

I'll have about 20% of the purchase price in the bank but I will not be putting 20% down, this is saved for minor updates and to cover for unexpected vacancy expenses, I'll be going for an FHA. 

I've sadly seen quite a few implode from the strain.I believe that making a good choice of a marriage partner eventually does not happen by accident.

Inspection concessions cover unexpected or non-disclosed problems.

I became interested in part because my family was in a bad car accident where 2 kids street racing hit us and almost killed the 4 of us including my 5 month old son and 3 year old daughter. 

Not only if a tenant goes after you, but if something happens in your personal life (you're at fault in a car accident), your assets are protected.