There are inevitably going to be some unforeseen expenses, whether it be repairs or you have to cover the entire mortgage yourself for a month or two while you try and find roommates. 

My question was focused on unforeseen mishaps outside of your control (e.g.

Price in your repairs and make sure you have cash for the unexpected, (there will be unforeseen expenses). 

We all know it's not uncommon for an contractor to give you an estimate for something, and then the final bill to be higher due to some unforeseen problem or cost overrun.

I would appreciate if you could share your experience with emphasis on closing costs, unforeseen "hidden" fees, etc.  

This way if the property has any unforeseen repairs there hopefully will be enough to cover it.  

Purchase price: $159,000 Initially intended as a BRRRR deal, unforeseen circumstances led to a pivot in strategy and the decision to sell the property.

Purchase price: $159,000 The property was initially purchased with the intention of completing a BRRRR (Buy, Rehab, Rent, Refinance, Repeat) deal, but due to unforeseen circumstances such as issues with contractors and the passing of my business partner, the decision was made to sell the property.The property is located in a desirable area where comps are in the $400,000 range and requires approximately $30,000 to complete the necessary repairs and upgrades.

Whatever you buy, make sure you have cash reserves or cash equivalent reserves for unforeseen events after buying.

Plus, finances fly by and who knows, maybe some unforeseen circumstance will occur and in a couple years instead of saving more you’ll end up with 20k in the bank instead.If you’re looking to flip (only because that’s what I know more about) make sure you interview tons of lenders, because quite a few will lend you money for the property AND the rehab costs.