What was your big unexpected incounter on the burn out.  

with just a little practise,some tools, you tube videos,you can do many repairs,from drywall,outlets,fixtures,blinds,etc saving hundreds of handyman calls

Good Morning,I need some insight and recommendations as to a situation that has come up, ina  property I am looking to purchase, that has Exposed wiring , all throughout the house.The house was built around 1955 , and it is all wood on the inside ( almost like a Log cabin on the interior walls ), in that there is no sheetrock anywhere in the house.Well, all of the wiring that goes to the.... light switches, Outlets and ceiling fans, are all " Exposed " and are tacked to the wall with staples.Here is my main question please.....

. $10 for my time, money,and effort in this deal so this was totally unexpected and to be fair I think I should get my $10 and then we should split the bonus $90 equally, does that sound fair to you? 

I'm no expert rehabber, but from my experience in repairing my own rentals, I'd be concerned with unexpected things once digging into an old house.

Use the BP calculator and include vacancy rates, costs for PM, unexpected fixes which might be costly since you would have to hire contractors, and the unexpected issues of just not being close.

Some details:Purchase: $45,000Rehab: $40,000 (This includes 15% unexpected cost)ARV: $150,000Annual Taxes: $4,000Rehab is scheduled to be 8 weeks, which includes kitchen, bathroom, add powder room, build deck, finish basement, refinish floors, paint, landscaping and a few other items.

So, that only leaves about $20,000 for profit AND expenses, which is usually too low for a flipper because you could easily eat up $10,000 on unexpected rehab costs.  

But rentals do have their downsides - big capex, bad tenants, and local market factors can all affect returns in an unexpected way.

Experienced investors know how critical reserve funds are when the unexpected happens.