There should be at least 100% of funding based on the amount in the reserve study and I always advise clients to contribute more if they can because unexpected problems always arise.

It would be devastating to overextend yourself and have the unexpected occur on FOUR projects, to the extent that you are unable to rent them and now you are stuck with four house payments, insurance, taxes, etc. and I assume you plan on having a primary residence, so five payments.

You never know what kind of unexpected expenses might pop up.

This was one of those unexpected costs that sucked away all of the potential cashflow to date.

Vurtually every deal has some kind of wholesaler, cash for keys, unexpected rehab, whatever comes up, adapt and move forward.  

Closing costs, holding costs until you get a tenant on the other side, plus there's always going to be unexpected repairs or things you might want to do before they move in.

If you're doing a side deal and borrowing the funds for the down payment and then paying investors back, they're really going to frown upon it (they don't want any of the down payment to be borrowed, and will question any large deposits coming into your account).Also with a multi unit that I assume you'll be renting out, make sure you have cash reserves for the unexpected (evictions, damage, code changes, etc).Good luck!

You should also keep this letter for future reference, because sometimes life has a tendency to change unexpectedly.

In this case an aging family member was looking to sell one of their properties after a tenant had moved out unexpectedly.

@Shelly Forte I have experienced unexpected delays before but it's bound to happen every now and then with printing services.