I often get next to new appliances for next to nothing (some free) and by having spares available to me I never have to worry about emergency repairs.

I am a Registered Nurse - Emergency by carreer butbin my heart I want to expand and do more with myself. 

I do make a good living doing what I do now so I would most likely be able to cover any major repairs or emergencies but I also like the properties to cash flow enough that I don't have to take anything out of pocket to fix or update.

If something unexpected comes up, you need to come together and have an emergency money meeting.

(A) A landlord who is a party to a rental agreement shall do all of the following:(1) Comply with the requirements of all applicable building, housing, health, and safety codes that materially affect health and safety;(2) Make all repairs and do whatever is reasonably necessary to put and keep the premises in a fit and habitable condition;(3) Keep all common areas of the premises in a safe and sanitary condition;(4) Maintain in good and safe working order and condition all electrical, plumbing, sanitary, heating, ventilating, and air conditioning fixtures and appliances, and elevators, supplied or required to be supplied by the landlord;(5) When the landlord is a party to any rental agreements that cover four or more dwelling units in the same structure, provide and maintain appropriate receptacles for the removal of ashes, garbage, rubbish, and other waste incidental to the occupancy of a dwelling unit, and arrange for their removal;(6) Supply running water, reasonable amounts of hot water, and reasonable heat at all times, except where the building that includes the dwelling unit is not required by law to be equipped for that purpose, or the dwelling unit is so constructed that heat or hot water is generated by an installation within the exclusive control of the tenant and supplied by a direct public utility connection;(7) Not abuse the right of access conferred by division (B) of section 5321.05 of the Revised Code;(8) Except in the case of emergency or if it is impracticable to do so, give the tenant reasonable notice of the landlord's intent to enter and enter only at reasonable times.

After spending a couple of weeks meeting with lenders, investors, and wholesalers, I've seen some patterns start to emerge.

I highly recommend you save up for an emergency fund, or as I call it, the Armageddon Fund.

For example, my partners were handling an emergency at one of our flips earlier today (security alarm went off) while I was eating lunch and playing with my daughter. 

I don't want to use my savings for the initial purchase because it wouldn't be enough to get a decent-size investment so instead I'll use it as a back up in case of some unforeseen emergency.3.

If you plug up the leaks spend a few $100 that is an emergency repair expense.Otherwise it is an expenditure.