Establish a solid reserve fund (3-6 months of rent) to cover unexpected expenses or vacancies, which are inevitable over time.Make sure you're well-versed in local landlord-tenant laws to avoid legal complications.

In my company, we handle evictions, cover the cost of the eviction, and I even pay the Landlord up to a month of lost rent.

Some investors, (and some attorneys are comfortable advising)  running without an LLC for some people and instead having an insurance policy in place to cover most likely scenarios of paying.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

I would explore financing options that would cover the rehab costs.

Appreciation:You're absolutely right that cash flow gives you the flexibility to cover operating expenses, deal with vacancies, and manage surprises early on.

Although, they are only washing the duvet covers, throw blankets, and kitchen towels. 

As long as i have enough money to cover my expenses and live comfortably I don't mind taking a hit on the cash flow part.

I was considering doordashing along with my part time job in order to cover the expenses of mailing every 3-4 weeks until I don’t have to.