You need to put money in and you need to have a reserve for unexpected and expected expenses.I read a couple books to get a basic foundation of how to determine a good deal.I read a book on how to manage a rental, even though I was hiring a property manager to get started.Then I jumped in and bought something.

There is all sorts of unexpected impact from COVID-19 that is yet to be seen.

There are always year end projects and trying to fit in an unexpected turn into the holiday season is something we try to avoid.

Was this expected/unexpected?

I bought 4 last year sight unseen, it's easy with the right amount of due diligence. 2 are doing well (set it and forget it), 2 are doing so-so because of unexpected expensive repairs needed such a a large tree falling onto one and another needing foundation repairs of all things, one needing sewer main repair. 

My father passed away unexpectedly in January.

To allege we are unskilled at our businesses because completly unexpected legal changes happened against us completely beyond our control is not a fair or even cogent argument to make.

Always budget for extra unexpected things but now at least you know details on the bones of the home. 

I properly allocate a percentage of the overall rent to expenses like CapEx, vacancy etc, but on top of that, how much should you have set aside in order to sufficiently cover any unexpected expenses.

The LOI's I've been submitting lately include a portion of sales proceeds to go into an escrow account for 90 days after closing to compensate Buyer for any covid related delinquencies, unexpected move outs, ect. and Seller's have been open to negotiate with this language thus far.