They can buy property any way they want, including with cash, but the low interest rate mortgage on their reasonably lightly levered acquisition is an attractive component of the deal.

Of course, you can't protect yourself completely, but this will also help you prepare for buying the next properties a little better, and it's an exercise I generally do when I'm on a showing for a property I'm serious about so that I'm factoring this into my analysis to some degree in a "capex" reserve.Capital ExpenseRoofWater Heater x2All AppliancesDriveway/Parking LotBoiler x2FlooringPlumbingWindowsPaintCabinets/CountersStructure (foundation, framing)Components (garage door, etc.)

The other component to this is people continue the "contact the SEC with a tip".

Establish a clear process for handling these requests and keep an emergency fund for unexpected repairs.Tenant Relations: Communication is key.

Knowledge is the most important component.

They may look promising on paper but often underperform in reality due to management challenges and unexpected expenses.Given your situation, a SFH in a good area of South Jersey could be a solid starting point.

How do you typically handle unexpected costs or delays in your real estate projects?

Cash flow is not a myth.If you properly budget for your expenses, including capital expenditures(Roof, HVAC, furnace, etc), then you can rely on the cash-flow.People who say cash-flow is a myth are normally people who say things such as 'we had to pay for an unexpected roof'

Your emergency fund is a great cushion, but be ready for unexpected expenses.

Although this is working out ideally, there are some tricky components to this.As of right now, the seller needs to move immediately and is requesting for at least 100K from the 180k that would be due in advance as he is trying to close on a cash only property.