Ensure you have always 5-10k cash reserves as unexpected things can happen (if you are handy and have time 3-5k reserves are enough) Pm me and I can give you more advices

A last minute and unexpected (almost) collapse of the septic tank ate up $3k.

One of the reasons that people use the 50% rule is that it should allow you to build up some cash reserves for the unexpected expenses.

Guys thanks for all the quick replies....some one asked about the $450 Insurance per month.Also had a little type in there for insurance should have been $150 / month (not $450 so that would actually make it $1800 per year...guess my fingers were moving faster than my brain.However these units are separately metered so no unexpected expenses that wayThanks for all the advice and help

Also insurance is for the unexpected, but when a property is in a "flood zone" it is because a claim is expected in a 100 year time period.

If you believe "The Black Swan" by Nassim Nicholas Taleb, these unexpected and unforeseen events are, in fact, more significant in our lives than our plans.

Again I dont know if an LLC would protect his $250,000 in the deal, in case something unexpected happens and I cant make payments.

it is true, a $5k "big bite unexpected" happens. make sure you have ample reserves.

The best deals are the unexpected one, embraced the "craziness" and you will have some great outcomes.

Ok the initial change especially if unexpected can be a problem.