I've had just about every problem you can imagine with this property, from squirrels in the roof to replacing the oven.

Identify unplanned expenses like car maintenance, house repairs, etc.

There is always a new squirrels nest or someone hates a color of carpet now that they see it without the pictures on the wall. 

If you have the tiniest of openings they can get through.Setting traps doesn't stop the breeding.That's a way for pest companies to keep making more and more money.My mother-in-law had squirrels jumping from the roof getting into the attic.The first week the animal control company set a few traps.Then they wanted a service contract.

Will you lose money some months and have to pay out of pocket for some stupid, unplanned expense?

Can you afford to make pymts if you have long-term vacancies due to unplanned repairs and murphy's law?

At some point, that debt becomes impossible to make payments on in the event of an unplanned circumstance.Think of all the folks who finnanced too much for their over valued houses before 2008, using interest only mortgages because they couldn't afford a conventional mortgage.

First carefully use a large drill bit by hand (1/2-3/4) and make a small opening to confirm it is a bird not a squirrel or other feeding on baby birds.

This is assuming I did all my acquisition numbers right and an unplanned emergency doesn't wipe me out in my first year of course!

Is there room for mistakes and unplanned repairs in that rehab budget?