It's the person that has a SFH that they can't sell that becomes the unexpected landlord usually and the issues they have could fill a turnip truck.. they aren't prepared, don't realize what the costs are, losses are, and have no clue usually what a landlord is required by law to do, so they wing it and then are shocked as to how "taken advantage" they were. and how much court costs are, and how hard it is to fix a dirty messy place the tenant just left with no notice or worse where they wouldn't leave and they spent $$$ in court and legal fees to get them removed. 

Cathina L Gunn-Rosas if they plugged a brand new dryer into a dryer outlet and it was damaged by improper wiring, I would pay to fix their dryer.

There are a lot of very responsible people who will make great tenants who have foreclosures and such on their record due to an unexpected illness or injury.

It might take you a little while longer but that initial cash-flow isn't going to allow you a ton of time to save up for unexpected expenses.  

They don't always have the color you want - I spent weeks looking for a stainless dishwasher - but for an inexpensive solution at reasonable prices, they really can't be beat, plus you're helping a non-profit charity as well.I find Sears Outlet to be overpriced and Home Depot/Lowes is right out, unless they are having a super, mega, ultra holiday weekend sale.

I don't think I've had any real major unexpected expenses that shocked me.

To mitigate this I did a rehab budget based on J Scott's book and worked in an extra 30% for unexpected cost. - if I find that I am overwhelmed managing the property, I have factored in 10% for property management, but would like to take a shot at self management. - I uses other sold 3/2 manufactured homes in the same neighborhood for my ARV then added in a 5k buffer.- Besides the forced appreciation from the rehab I dont factor in any appreciation in my calculations. - Also worked in the budget is labor cost for the rehab, if I do the work I will save money and increase my CoC, but because am currently employed at 60hrs a week I will likely hire out contractors. - I feel that 10% CapEx/maintenance should cover any damages (I have extra capital set aside for pop up expenses)-I view this home as a stepping stone to a larger portfolio and a good way to learn about the business with out being fully invested in a large multifamily or extensive rehab that requires roof, foundation ect@Bill F. - my ideal tenant is a family that wants the advantages the school district offers but cant afford a 40k down payment on a 200k home.

I obviously have no way of knowing what your rents would be, so just make sure you estimate them conservatively so you don't get burned - and lastly, for a project this size, I would just say to make sure you have an absolute minimum of three months worth of gross expenses on Day 1 of owning the place for those unexpected Week 1 problems or market turn.

Hello:If they don't work out let me know.  

I'll keep an eye out.. let's connect and share contact if.Thanks David