A common rule of thumb is to budget around 1-2% of the property's value annually for maintenance.Management Fees: If you plan to hire a property manager or use a property management service, factor in their fees as part of your operating costs.Contingency Fund: Always include a contingency fund in your budget to account for unexpected expenses or fluctuations in operating costs.Financial Modeling Tools: Consider using financial modeling tools or spreadsheets designed for real estate investment analysis.

To make a really long story short, I have just completed a Short-Sale of a single-family home a business partner and I built in Horseshoe Bay, Texas, right outside of Austin, Texas.Our Operating Agreement states that we are to split 50%/50% of all expenses within the business and treat any unexpected monies due as loans and paid back equally amongst the partners.

Be sure to spell out the terms in your lease so there are no surprises.

I wouldn't be surprised if there's no mother, or she's already dead, or living it up in Palm Springs. 

I would not be surprised due to the subjectivity of the JHA that a PM or landlord would simply forgo doing a criminal background check so they are not found in violation of the Human Rights Ordinance.

Unexpected issues can pop up, potentially leading to budget overruns.

I was really surprised about that.

Generally speaking my tenants communicate so it's not usually a surprise either.I do network with locals for local advice, which is why I'm genuinely curious about the lead issue and your experience with renter assistance programs causing problems.

I buffered it to $6500 but not be surprised to see $8500 based on my previous purchase in April.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!