In general I'm saving for repairs to the property, but we all know that this covers a wide spectrum.

By leveraging strategic financing, we ensured all costs—from acquisition to renovations—were covered, enabling a smooth and efficient process from start to finish.

I am new to real estate investment and planning to start ramping up long term rental properties in 2025, however my first two primary residences were both converted into MIL's and rented within months after closing which effectively followed the House-Hack tactic (we currently rent our furnished basement to primarily traveling nurses for 3-6 months at a time which covers 70% of our mortgage).

This is a typical roof drain.

It will help you cover your bases.

If you're going the umbrella insurance route, perhaps see if it will cover you for several things including just the routine slip and fall (like mold or earthquake).

If the entire home is rented out then there can be some incentives to fix things like some big repairs such as roof, windows etc.

There are pros and cons to using DPA with your average conv/fha loans ( yes this is how you arrive at 0% down or 100% CLTV or combined loan to value financing).Conv and FHA lend up to 95-97% so that remaining 3-5% down is covered or partly covered by the remaining local DPA programs.

Both options have merit, but renting allows you to keep an appreciating asset while covering costs.

As an investment property owner, this means less maintenance and fewer unexpected expenses from storm related damage, often resulting in more affordable insurance premiums, less wear & tear on mechanical equipment, roofing materials or exterior surfaces.