You'll need around 20% of contingency for unexpected issues.

The property negative cash flows 400 dollars a month (not counting unexpected repairs), but I gain about $15K in equity each year paying down the mortgage. 

This might be a long shot, but open communication can sometimes lead to unexpected solutions.While these steps may not guarantee a resolution, they could help you find a path that avoids foreclosure and allows you to relocate your family.

Now you are over $2k and only bringing in $2100… If you don’t care about the cash flow at the moment and have a good income that can support an unexpected large expense then you should be ok.

Having a clause for transparency on repairs and fees in your contract can help prevent unexpected charges, so you may want to discuss adding this with your PM.

Mostly worried that even if I find a place and the money, that I'll be making a big financial mistake and have little left to cover unexpected costs.

Be prepared for unexpected expenses by building up a reserve fund and being flexible with your options.

Flexibility and persistence are key when navigating unexpected obstacles in real estate development.

Flexibility and persistence are key when navigating unexpected obstacles in real estate development.

Saving up a down payment will give you more flexibility and a buffer for unexpected costs.