With a 21K margin, all it takes is a couple of unforeseen issues to wipe out your profit.

I'm really considering fianancing at least 65% LTV , so that I will in fact have cash readily available invade of any unforeseen issues.

Maybe I am overreacting to the dear that the house-flipping shows make it look too easy, and assuming everything on that site will come with unforeseen liens, an eviction, and a major renovation.

Usually 10% for down and another 10% for unforeseen costs, loan payments, contingency, etc.

That way if there are unforeseen issues, I can cover it and still make a good profit.8.)

By mainly any expense not budgeted related to an unforeseen repair is expensive!

There are always unforeseen issues.

As this will be my first property, I want to make sure that I am setting myself up well as there may be unforeseen costs that I wouldn't have otherwise budgeted for. 

The insurance inspection came back with a few small safety issues with the siding and some mortar around the chimney but the big unforeseen problem was the decrepit rotting garage in the back yard.

So do have that behind me.I know how quickly monies can go if there are unforeseen repairs.