If you have any cap ex left in Palm Bay (like an HVAC major repair or roof) you will lose cash flow for years.

In December the roof was finally repaired, however the damage to the ceiling has not. 

Even if a property does cash flow well, an unplanned repair can remove years of cash flow.

I don't anticipate it anytime soon but yeah that is my strategy.

Example 1 - I used to have extensive expertise of automotive repair facilities located in Harris County, Texas.  

No lender will lend on a deal that doesn’t make sense.4) After the appraisal comes back you will get a document that outlines the amount to be borrowed and all fees that will be relating to the loan (I would suggest to ask for an example of this document when you are searching for an HML so you will know what fees are going to show up).5) Close the loan at a title company of your choice.6) Begin work and make draws on any repair balance.

Just as I was scrambling to figure that out, one of my tenants also moved out, leaving me with thousands in repairs and a vacant unit at the worst possible time.I had zero reserves left because I had just paid back the money I borrowed to close.

Quote from @Jinxiang Xu: New to being a landlord, and already forked out $20k for foundation repair on this rental house.

New Roof, Foundation repair, New LDL flooring, Drywall work, New paint, doors, trim, appliances and new full bathroom on the 1st floor.

Have reserves for vacancies, repairs, and closing costs.