I handed a $1.25m check to a widow with 3 year old twins after her husband was killed while cycling during a hit and run accident.

i dont want any unexpected paper work or LAWS to pop up and affect my deal due to lack of guidence..

I will get my $35,000 back so it will essentially be $0 down, I will have the house, still have some equity, and have extra cash in hand for any unexpected vacancy or to use as another down payment later on.

I assume a 10% fudge factor, usually plenty for unseen and the unexpected, while a few times that wasn't enough, more often it's within 2% of the initial guesstimate.

This happened unexpectedly because I had no idea I was going to move.I left the house by Dec 16. but now the landlord wants me to pay rent until January 13th because that is when the 30 day notice ends (Dec. 13-Jan 13).

I have read that I need to have a "Pay or Quit" served and then a Dispossessory writ served and then the court makes a judgement and then 7 days later I can evict, but I think I may just pay an experienced lawyer to do it the first time so I don't do something illegal on accident.

I came across Bigger Pockets by accident as well and I'm glad I did.

Insurance is for the unexpected.

Hi Sophie, another thing you need to consider is that you should budget for some sort of reserves so if there is an unexpected expense or prolonged vacancy that you are still able to make your payments.

These unexpected scenarios are all hopefully unlikely, but they are realities in life that you and your family should be prepared for.