These higher and unplanned fees, delays, plus the additional work sometimes required can break your budgets and make deals unprofitable.  

Examples: (1) HOA may choose to restrict the number of units that can be rented; owner occupier rate is a key factor in qualifying for FHA financing, (2) assessments, these happen whenever there is a major unplanned repair needed (like a roof replacement) the HOA decides what the payment will be and (3) your assessment is accurate, condos in general appreciate much more slowly than single family properties.  

It's like a house of cards, all it takes is one semi major unplanned thing to happen and it all comes crashing down with no money in reserves.

We bought in a great neighborhood 15 years ago, have had zero unplanned vacancy and make a decent income.I agree, though, it's currently pretty hard to find nice 2-4 unit properties (or fixer uppers) where the numbers work (1% rule) in Madison.

Today I had an HVAC unit go out at my own home and spent an unplanned 1/2 day figuring that thing out.

The number of costs you have to account for and the crazy unplanned costs that come up was one of the biggest things I learned early on.

But when unplanned for things like rampant illegal conversions occur, it overwhelms the infrastructure.When you do conversions, particularly adding more housing units, you're acting as a developer, and have to take into consideration the wider community, and what effects you do has on it.

It can be a medical emergency or sudden loss of a job or unplanned change of residence.How to save money?

All of this unplanned attention has brought me much success without self promotion.BP is about helping each other without any expectations. 

I have $$$ saved up to cover the acquisition costs and also unplanned expenses.Am I missing anything?