Risk Management: Securing enough funding to cover unexpected expenses during the renovation is a challenge.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I've been very lucky to not have to replace a roof or HVAC yet!!!

For myself, I would find a nice house hack maybe in Ohio, that seems to be all the rage right now, and have most of my expenses covered (your not paying it totally by yourself and can still save money that way). 

I continue to work and earn to cover my costs and save some. 

I have seen multiple properties with low asking prices and sufficient rental income to cover the note.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Then in the middle of the rehab a tree fell in the roof.

No rehab needed is great, sure, but with only 120k to cover everything, we're limited and I'm assuming our budget would only find us cheaper deals that need work/rehab.