Failing to budget correctly for repairs or not accounting for unexpected expenses can cause you to go over budget.

I just got off a call yesterday with a investor group with a bunch of blue island buildings,  from there experience tenants have been pretty good but the buildings are older and a lot of unexpected problems have arisen so I would say make sure to have a good inspector and some reserves incase work is needed and its a good area to cash flow.

If one tenant moves out or unexpected repairs pop up, the other property can help cushion the impact.Of course, more properties mean more responsibilities...double the maintenance and potential headaches.

I was glad to show some unexpected kindness when he cried poor at Christmas.

Maybe assume 1 unit out of 5 has a $5,000 unexpected bill every 3 years?)

Just keep 3–6 months of reserves in case of vacancies or unexpected costs. 3.

Just make sure to include a buffer (about 10-15%) for unexpected costs, especially if you’re working on an older home.

I don’t immediately think it was due to a medical issue or some unexpected personal circumstance, even though I have been there; it’s usually more along the lines of, 'They must’ve found something unsatisfactory with the property.'

This will probably be unpopular but you should save for a few more years even if you save enough for your down payment, if you are exhausting all your savings, you will struggle with any unexpected repairs.

Also, be prepared for potential delays and unexpected costs, especially with long-distance renovations.