This can go towards covering unexpected maintenance costs or damage to the property.

Ensure you have enough reserves for unexpected expenses, and understand the property's projected cash flow to avoid overleveraging. 

Just make sure you keep enough cash reserves on hand to cover unexpected costs or market downturns.Given the complexity of your plan, especially with the involvement of an LLC and potential rental income, it might be wise to consult with a tax professional.

While we faced some challenges with unexpected repair needs, our proactive approach and strong project management ensured these were addressed without significant delays.

Hi folks,My wife and I have a construction to permanent mortgage loan on land+home where we intended to build.Unfortunately, we found out that unexpected foundation work due to soft soil would likely make the project use triple our contingency reserve before even breaking ground.We are exploring our options on how to transfer our current financial obligations for this construction loan to some other loan offering (as moving forward with the project is now too financially risky).

Lessons learned from the W Knoll St deal include the importance of precise budgeting and managing unexpected challenges during renovations.

It's not quick money and there unexpected expenses that pop up from time to time.

If you decide to refinance, make sure your new cash flow can still cover all your expenses, including any unexpected costs.I hope this helps you in any way!

Like @Nathan Gesner said, everyone starts out with ZERO experience, or you've already started and have some experience.To your post, I started out with zero experience and kind of by accident.

misc also includes unexpected charges such as water charge associated with a leak such as a slab leak.In addition, at this rent point you will find it difficult to get a PM at 10% all inclusive (including tenant placement, inspections, lease renewals, etc).