You can add a vacancy allowance in your calculations when you vet the property but you never know when something unexpected may pop up.

Only you and your agent can make the decision.If you buy it,  count on finding unexpected problems that require fixing, and make sure you have the cash on hand to cover them. 

Only have members on your LLC with good credit 680 and above, you can use a will to plan for unexpected circumstances.

@Steven Belter I met with another WI investor who has purchased raw land in Belize that he is thinking about building a high end home as a primary home that he would also rent out.  Let

Something like an electrical panel replacement is a problem, if you swapped out some outlets, that isn't as big a deal (at least in my area).If we are talking about major construction, like an addition, they could make you tear it down.

There will be unexpected costs that come up, so make sure you give a little cushion in your budgeting for that. 5) Screening- Have a thorough and standardized screening process.

It's definitely a frustrating part of the business, especially when you're trying to maintain cash flow and unexpected repair costs pop up.One thing I've learned is that some of the more real estate investor-focused insurance companies tend to be a bit more lenient on inspections or are more upfront about their requirements before binding the policy.

It can put you at a higher risk of foreclosure if you face an unexpected vacancy or repairs.

Any challenges or unexpected hurdles you've encountered?

The pilot and the castaway talk about every component of flying, about operating the plane, about landing, about dealing with the unexpected.