Make sure you are building in some cushion for yourself when running the numbers so you don't get yourself in a negative cash flow situation if/when a reval occurs. 

Would you factor in a rent cushion, if so how much?

Rents will be at least double what they are now and cash flow will be a nice retirement cushion.

Unless there is a good cushion do not try to buy in courthouse.

Helps get the deal funded, no PMI and gives a cushion as well as the forced appreciation with the re-hab. 

That being said I’ve been running numbers and doing my own financial budgeting, it would take me 4 years to save enough for a 20% deposit and have enough for rehab with a cushion after it’s all said and done in my market.

It’s works well as long as you have a little cushion cuz the lenders still take my mortgages out on the first.

As a police officer, I would expect you'll have pension income which should provide you a bit of a cushion if times get tough.

@Eddie Sorrell If your numbers are so tight on the day you close, then you probably didn't give enough cushion when you made the offer.

I always had a good cushion, positive cash flow however small plus my wife and I were both professionals with good paying jobs.