They can provide a more accurate assessment and potential repair costs.When dealing with homes from the early 1900s, it's prudent to overestimate your renovation budget to account for unexpected issues.

This includes medical malpractice and auto accidents, both of which are significantly higher than what you would see with a landlord slip-and-fall or mold injury claim.3.

A contingency in this case means setting aside extra funds to cover any unexpected cost increases during construction.

Inspections can also cause delays, especially if unexpected issues arise that need to be corrected before moving forward.

It was either a glitch or was grabbed by accident as something else was trying to be removed.

It's kind of like having car insurance, you don't think about it till the accident but it is better to think about it before hand and be covered if things go poorly.

Since my father passed away unexpectedly, i do not have cash in hand for the deposit.

If a transaction goes 100%  smoothly  I can somewhat understand your comments   but  if anything unexpected  occurs - having an agent involved to  assist  righting the  ship can  prove to be  priceless .   

The insurance agent told me that insurance does not cover intentional tenant damage; it is for "accidents" only. 

Come even the slightest ripple (an increase in property insurance, an unexpected repair, etc.) and suddenly you're drowning in a sea of negative cash flow.Also, are you including both professional property management and vacancy in your operating expenses?