You will need to take safety precautions if allowing people into your home.

I care because I background check each tenant for my pease of mind, for the safety of my other tenants, and for the safety of my unit’s neighbors.  

Insurance provides that safety net that should something big come up, it will be covered. 

so you buckle down and prioritize your spending and income. 

House hacking at its finest : )6.Just FYI- Long Beach ranked 8th nationally among the 100 largest US cities in month-to-month average rent increases and y-o-y from 2016 to 2017 with a 7.8% increaseI’ve contacted multiple planners from building and safety and have gotten the green light that a rear unit can be added as long as it passes through historical commission (yes I know this can be a headache) and as long as it meets parking requirements.I currently have a short and sweet background in real estate appraisal for tax purposes but not so much for real world investing that have real ramifications.

@John Thedford are you out searching FL for properties dressed in your safety suit?

I wouldn't worry about spending money on safety related items like this.

Again my only requirements are: yard with property and relative safety for my kids. 

I've always liked the idea of paying things down, but that does not mean your loosing that money at all, its just sitting somewhere else and giving you a safety net at the same time.

When estimating, would you add any additional safety factor on top of the original rehab budget just to account for any unforeseen?