These costs would eat into your profits.The case for sellingEven at $125/month, your cash flow is slim, and any unexpected expenses could turn this property into a liability rather than an asset.

Focus on fundamentals: buy below market value, have strong cash flow (or a clear path to creating it), and maintain sufficient reserves to weather any unexpected challenges.If you’re strategic and stay patient, this market could create opportunities that lay the groundwork for long-term success.

It takes the pressure off as deadlines approach and gives you room to solve unexpected issues.

By doing this, you are extending the policy's coverage to include your property manager, should they be held liable for any incidents or accidents on your property.Why is it important to add your property manager as an additional insured?

Reserves: Do you have enough cash reserves to handle unexpected costs or delays in refinancing?

It’s also important to be as specific as possible in the scope of work for each line item—clear details can save you from misunderstandings or unexpected costs later on.I specialize in consulting services for situations just like this, helping clients work confidently with contractors by bridging the knowledge gap.

Repairs ($5k): Increase to $10k for unexpected issues in a 4,000+ sq. ft. property.Total reno costs will likely fall between $180k-$210k, not $145k.

Although some unexpected costs arose during renovations, close collaboration with Carol ensured the project stayed on track, resulting in a successful outcome.

Future deals should include a 10-15% buffer for unexpected rehab costs.- You should consider some other lenders.

Risks include market fluctuations, property damage, tenant issues, and unexpected expenses.