You need funds for the purchase but also a reserve for emergency situations like vacancies, maintenance or major repairs, etc.Even in an expensive market, there are deals to be had!

Here is a brief description of it:Protecting Renters and Preventing EvictionsCancel/ban evictions for rent due from the start of the COVID-19 State of Emergency through 12 months following the end of the State of Emergency, if tenant was unable to pay because of a direct or indirect impact of COVID-19.Provide “Just Cause” protections to ensure tenants and foreclosed homeowners cannot be evicted for no-fault or non-renewal of leases for 12 months following the end of the emergency declaration.Freeze rents at pre-COVID-19 levels; rents as of March 10, 2020 remain in effect through 12 months following the end of the State of Emergency.Provide a local option for municipalities to extend Just Cause protections upon expiration.Provide strong protections against unfair debt-collection activities for tenants impacted by COVID-19.Link to bill description:https://www.repmikeconnolly.or...Link to contact senators: https://malegislature.gov/Bills/191/HD5166

A backed up drain pipe will cost $250 to get emergency rooted and if there's water damage, you're easily in the $2000+ range.  

My girlfriend is looking to get into a medical school in the next 2 years though so this house will likely end up as my first single family rental while I try to House Hack a duplex or triplex near whatever med school she gets into.

Regardless of what we're currently going through, I refuse to believe that there will be doom and gloom.That being said, I've got fully funded emergency funds and am weathered for any storm. 

(Note: I also have another $25K emergency fund but I don't want to spend that). 

(No debt except my primary residence, 800+ credit score, 15K in emergency savings, maxing out tax deferred accounts every month, and saving $3K/month for investing.)I have a realtor, and we have setup a search based on my goals; I probably analyze 5 or 6 properties every morning.

I can't say how much of an emergency this is- but if it's raining often and water is getting in to the house, then an immediate remedy- less than 24 hours in my opinion, is reasonable for the tenant to expect.

@Ronald MorrisI really like the Cerner medical campus. 15k jobs going into that area....

I have a unique situation where I may be medically retired from my government job due to an on the job injury (back surgery/nerve damage) I am still able to do physical things but may not be able to stay in the job based upon it's requirments (Law Enforcement).