That being said prepare for unexpected expenses. 

Or she stops paying either on purpose or by accident and doesn't tell you and that wrecks your credit...

Reno's STR demand has been unexpectedly strong and rewarding.

He told me that the only time in his 30+ years that the scammer paid off is when the crook unexpectedly died and had a large life insurance policy that was able to pay off all the creditors.

This reserve amount represents roughly 2–3 years of projected repair costs, which might be a conservative approach, but it gives us a buffer for unexpected, high cost repairs when they pop up.With a larger portfolio, the reserve pool wouldn’t need to grow proportionally, as funds and repairs can be balanced across properties, allowing costs to offset each other over time.

Many investors hesitate to start their next fix-and-flip project due to barriers like limited funding, uncertainty in market conditions, lack of experience in estimating renovation costs, or fear of unexpected delays and expenses.

Emergency Maintenance: Regular maintenance is on the owner, emergency repairs might be charged to tenants if they caused the problem.By proactively managing these expenses and clearly communicating responsibilities to tenants, property owners can maintain their properties effectively while minimizing unexpected costs.

Reserve enough cash to cover 12 months of holding costs, rehab overruns, and unexpected delays. 

Bouncing payments or only being an illness or accident away from not being able to pay the rent, are issues considered by our underwriting.Letter Of ExplanationAny time there are credit issues or we discover an inconsistency, we require a written letter of explanation (LOX).

Ensure you have a trustworthy contractor, a detailed budget, and room for unexpected costs.