I've never encountered a buyer that balked. 2.

I have never encountered this.I believe if you encounter this you are doing something wrong.See it this way.

@Lei L.Hi Lei,A (2 inch) red ball sticker on the bottom of the entry door for each dog.A (2 inch) blue ball sticker on the bottom of the entry door for each cat.That way maintenance knows what they are up against, and not to leave the door blocked open allowing the pets to escape.It can also help the Fire Department (if you let them know what the colors mean).Good Luck!

You will also need money for closing costs of various descriptions, rehab money (if this is a rehab) to finance up to the first draw which is paid in arrears,  money to service the loan until the property is stabilized or flipped (HML money is not cheap) and of course extra for cost over-runs and time over-runs and emergencies which will surely be encountered. 

@Scott DonahueBuy another boat, a junker on craigslist with a title for $500 or $1000....transfer the title and get your new sticker and put that sticker and that boats tag on your other boats trailer...that's it...enjoy!!

The sticker price is $125k for those.

Property Management is a rough, tough & savage business.To put everything in perspective for you I've gone ahead and attached some stuff that I regularly encounter running my portfolio.

A lot of times the sticker shock of The Bay Area deters some people who will call investing here impossible. 

I've seen all sorts of plumbing issues but have never encountered it.

I encounter about as much Johnnys as I do Sallys (Sally can get a mortgage in an amount she wants, Johnny probably can't, and it appears that Johnny isn't even saving on the tax bill, so what's the point?)