The house had a warranty the first year that covered anything that came up, and we only had one issue with HVAC over those 3 years. 

@Chris Kay finding a quality, cost-effective contractor is extremely difficult:(There are thousands of contractors that are great talkers, but rarely perform within budget.Standard bait & switch is to lowball a bid, then once they get started all sorts of things "pop up" that somehow their bid didn't cover.

@Tom Nagy There are a number of existing forum threads covering the challenges RAD Diversified has faced with a number of investor's personal accounts of their own experiences.

However, vacancy means covering 100% of the expenses.Multifamily properties almost always generate higher cash flow due to multiple income streams, which also reduces the risk of vacancies.

What surprised me is that USAA covered all of those houses.  

It's just an unfortunate side of house flipping when you're first starting out - you typically don't have your downside covered.  

At this point, I would recommend having a line of credit to cover these things so you don't have money sitting in the bank doing nothing when it could be put to work.I have 33 units, no debt except for mortgages, and excellent income.

You can be told one thing & the PM can continue to cover it up without your knowledge.

I'm trying to get a mortgage, but it's entirely possible that the mortgage might not cover 100% of the price of the house.

If all your concerns are covered, do the numbers still make sense or should I see something else?