Getting the original owner to except offer took time, and there were a few unexpected costs during the rehab as well as a few mishaps during the inspection for buyers.

Getting the original owner to except offer took time, and there were a few unexpected costs during the rehab as well as a few mishaps during the inspection for buyers.

Louisville Building Permit application is nice and short but short on details.I am just removing a hall closet to widen the hall and relocate an outlet, I assume a permit is required.

Just expect the unexpected with this type of investing.

But, just to sweet talk them out , let them know you’re going to rehab and after youre completed that they could “apply “ .

We had to stay in a hotel for 2 weeks which was unexpected but that's covered under the $10k.

Our tenant just moived out and made several unauthorized changes to our house, including installing a Ring doorbell (which was removed, leaving two large holes drilled into the brick) and installing an outlet and ethernet connection on the wall above the fireplace (which he sighted as an improvement, but I'm not sure most renters will install a 40+ in mounted tv, making it an eyesore on the mantle wall in my opinion).

Electrician- one light fixture/change out 10 outlets.

That being said if one of us loose our job or get into any unexpected expenses it is nice to know we have the cashflow to fall back on if things get tough. 

In your experience (taking on board that the unexpected can and will happen) in reference to thinking long term, is it best to try to plan out 5 years?