Keep you cash on the sidelines in case unexpected expenses occur. i.e rehab goes over budget, appraisal comes in low...

I was in a car accident and had amnesia3.

we weren't aware of that and got slapped with a huge tax fee unexpectedly!

For me, everytime I think my life is on a straight road next thing I know here comes an unexpected twist and turn.

Things don't always go as planned so plan for the unexpected.

I understand unexpected things come up as the work progresses, but how is this typically handled?

Heaven forbid something unexpected happens. 

Bouncing payments or only being an illness or accident away from not being able to pay the rent, are issues considered by our underwriting.Letter Of ExplanationAny time there are credit issues or we discover an inconsistency, we require a written letter of explanation (LOX).

Make sure the $400-$500/month cash flow is enough to cover unexpected costs.It wouldn't hurt to look for other refi options or consider a different loan option, which might offer better terms.

We deal with some of the best "we buy" folks on the east coast.When the property condition is unexpected, they terminate during the study period... as they have reserved the right to do.