Then an unexpected HVAC replacement put me over budget What made you interested in investing in this type of deal?

It can also provide you with a nice cushion personally for any unexpected short term financial burdens (as long as you have a plan to pay it back quickly - because you don't want to use it like a slush fund)

It is the delight of social engineers and tyrants. 

It's very tempting to just want to keep buying, but either save your profits or contribute your W2 income to make sure you have money for the unexpected roof/furnace/leak/etc.

It was necessary and worth it, but be sure you have a comfortable amount of extra cash on hand for major unexpected surprises like this.

Always have extra cash for the unexpected.

Most budget 10% for unexpected repairs/costs.

Does anyone have experience with giving tenants small gifts as a way to smooth over aggravations from unexpected renovations while tenant occupying the property?

This is in case anything unexpected happens and for peace of mind.

That new payment does not leave much room for unexpected expenses, but assuming you did a renovation you may be expecting minimal repairs.