As I mentioned, I started out with no reserves, however I did dedicate most of my income from my 9-5 job to improving my property and also had a sizeable credit card limit on the off chance that something unforeseen came up.

save up and be patient. run the numbers and account for unforeseen issues. 

Howdy Tigers,Has anyone dealt with any headaches or unforeseen consequences from the new STR ordinances?

No matter what niche one chooses to operate in the REI field there will be trials and unforeseen issues that arise.

You will learn so much from minor and major failures and possIbly many many unforeseen and unpredIctable malfunctIons across the board and on your punch lIst.

I also included an extra $130 a month, in unforeseen costs such as mowing the lawn/shoveling/etc

Bottom line, the risk of negative cash flow is not being able to handle unforeseen circumstances.

Unforeseen Expenses can kill cash flow, but other than that looks great.

.- You lose everything, file bankruptcy and when you finally find a new job, your only option is to rent a house.Maybe you doubt you could lose your job, but there are many people who lose jobs for unforeseen reasons.

$200 a month when I self manage is $2400/year cash flow before unforeseen expenses plus I can buy 4 -5 of these properties with 5% down than I otherwise would have conventionally with a typically 15-25% equity stake up front based on market prices due to the fact these are foreclosures.