These expenses include property taxes (school, village/city, town and county) property insurance, regular maintenance contracts for things like lawn care and snow removal, maintenance reserves for unexpected repairs to plumbing, heating, etc and for large expense items like roofs, painting, and updates).  

Like others have said, one unexpected big repair can wipe out years of cash flow.

Many won't know what to expect until the unexpected is upon them.In my opinion, it's in the uncertain times that you should 10 fold your efforts where you can.

I'm hoping an unexpected and unplanned for (prior to now) $40k will be easier to part with. 

I am delighted with this!

So as always, when unexpected bad things happen, I just learned a lesson! 

However, I am holding onto more cash than usual in case some tenants are late on rents, more unexpected repairs, etc.

This was an unexpected disaster that hit the world so there is no harm in asking if the seller is willing to do anything to help incentivize the closing.

If you're worried about cost, you can ask the seller to keep $5k in escrow until after inspection, with those funds being used if anything unexpected pops up.

I should have built in raises but did not but did talk to them already that rent was going up and raises were going to be built in going forward and they were OK and it was not unexpected.