Get insurance, for a limitless number of unforeseen reasons.

If purchasing a property in $350k range is going to make you tight on cash, then I would go for a lower cost property, because you are going to need extra cash on hand for unforeseen expenses.

a fellow investor i know bought a sfh and plans to rent it section 8.the attorney who handled the closing never followed up on several issues with the property - such as C/o's for two decks and a utility room.the attorney also released escrow money back to the seller when they were not supposed to according to an addendum that my friend had them put into the closing stating that the money would be held in escrow for 90 days after closing to be used for unforeseen problems.

I've already accounted for taxes, insurance, water/sewer, landscaping, common area electric, but I'd also appreciate any insight as to whether there are other unforeseen expenses that I'm not accounting for. ]Thank you all for your help. 

I am a newbie investor (mid 40s), currently working long hours in order to save for a large down payment on a distresses multifamily, plus have a decent reserve for unforeseen rehab costs. 

Even in today's low interest rate environment, it is smart to leave a margin of safety (error) so you can absorb the unexpected or unforeseen. 

I would like to preserve this capital for the unforeseen issues associated with fix and flip.

I work in contracting too (HVAC), and if this was an unforeseen condition, I'd be more lenient.  

Make sure your contractor understands this and plans for some unforeseen expenses.I can help run the numbers if you like.

I am just trying to not limit my LLC in case I might need to do it for unforeseen reasons.