@Joel OwensYour post is spot on.Here's an example…  An 8 unit property in my target area came on the market unexpectedly last week.

I'm curious: Did closing cost you (unexpectedly) more because of that?

Calculate your bottom line using 70% of ARV (After Repair Value).Do not spend more than (.7*ARV)-RC (Repair Costs)Example: House is appraised at $100,000 *if repairs are made*...7*100k = 70k.Repair costs are expected to be $25k. 70k-25k = $45,000 (DO NOT BUY THE HOUSE IF IT IS OVER $45k)Take another look at the ‘going rate’ of rent in your area, make sure your cash flow is enough to cover ALL costs and include a buffer for taxes and unexpected repairs.Look at the property yourself - try to eliminate assumptions.Have a trusted professional assess and confirm info about repairs that may have been overlooked.Look at how much work you can do on your own and compare it with contractor rates to complete all repairs.

Typically you’ll need 25% down (minimum) plus another ~10% for closing/reserves/deposits/unexpected capex upon closing.

If you have an unexpectedly long vacancy for whatever reason this could wipe out all your profit for a year or more if you only cash flow $100 per month.

An unexpected medical bill can happen to anyone, and it's not hard for it to get beyond the point where the person can pay it back. 

.), I need to sell the property (approaches 10% to sell a property), and I take on all the risk of unexpected events. 

Getting rid of most or all of that debt may accelerate your credit repair.But still, keep a little cash on hand, so you can handle an unexpected expense.

My fiancé and I are currently in negotiations on a triplex and the inspection revealed some unexpected repairs.

Always have a contingency line item will help cover any unexpected expenses.