Need a new furnace, roof, whatever it is, you need to have funds set aside to cover those unknown costs, even an unexpected tenant turn. 

Especially, since you will have to deal with all the tenant issues and maybe some major unexpected expenses.My business model is to double my investment capital every 1 to 2 years.

So far, nothing unexpected has come up and I have been receiving rent payments.

With the extended timeline we are planning on getting a few more quotes. lesson learned was due to the unexpected quote I requested the home owner come down on price and I gave him the quote.

Get into the deal for as little cash out of your pocket as possible and you'll have reserves for anything unexpected.

@Jesse Watson You guys are a delight to work with!

What unexpected items came up during your ownership?

I have a line of credit that I use as reserve funds in case of a big emergency or to jump on an unexpected opportunity. 

Too close and you may end up paying out of pocket in some instances if unexpected expenses arise

While the unspent money can be used to invest in other properties or use it as a reserve in case something unexpected happens.