A taxpayer who fails to meet the Section 121 ownership and use requirements or the one-sale-in-two-years requirement is eligible for a partial gain exclusion if the principal residence was sold or exchanged by reason of(1) a change in place of employment;(2) health; or(3) unforeseen circumstances [IRC Sec. 121(c); Reg. 1.121-3(b)].For each of the three situations where a partial exclusion may be available (change in employment, health reasons, or unforeseen circumstances), safe harbors are available.

The landlord’s policy does not cover any damages to your personal property arising from fires, leaks, and other unforeseen events.

What you have just done is given yourself the right to back out should something unforeseen arise but also made your offer much stronger than the next guy.

Ask me again in a few years when I have emptied the bank account in unforeseen issues 💰

@Phillip CooperAlways potential unforeseen rehab work.

Asking them to leave temporarily could have unforeseen legal implications.  

Even with a warranty and extra money in escrow, there may be unforeseen problems.

This is the best way to do it and if you need to, down the road, you can always pull additional equity out of your investment property to pay off the HELOC on your primary house if you need or want to.Bottom line, you will need to get comfortable managing other people's money, including the banks, well and using other people's money investing in real estate.One last word of advice, make sure you have plenty of reserve in your cash on hand or equity funds for each property for the unforeseen repair.

.- you might overpay for the market you are not familiar with- you might get into a cost overrun scenario on unseen/unforeseen repairs- you might execute poorly (too long) and incur holding costs etcI would recommend getting a few under your belt locally to learn the process. 

Account for decreased ARVs, unforeseen renovation costs, etc.