This was a surprise to me but want to ask the community if this sounds correct.  

Hello BP,   I have just received a counter offer - which to my surprise, is from a Chapter 7 Trustee.   

If the renovation is extensive, you could run into some unexpected repairs like a broken sewer line, or mold that is found when the cabinets are ripped out.

As I do not want to surprise my tenant, I would like to be prepared for her potential reactions - ranging from "OK" to "wow I will cancel the lease."

The high maintenance costs from last year were due to unexpected damage.  

It was completely surprising because I was in good shape.  

But, I would highly suggest reading the policy jacket to see what is excluded so you don't get surprised on the backend of something actually happening. 

I have had investors fly in from all different parts of the country to look at all these areas and they are all surprised by how nice the area is given the price point.Follow and listen to people who are actually investing in a city like Adrien and not someone who hasn't or would never invest in a city based on some incorrect information.

I sometime allocate 75 to 100 per month for unexpected expenses depending on age and overall condition of property.Large capital expenses will need to be considered as well depending on the age of the mechanicals, IE. roof, HVAC, water heater, appliances Etc...Occupying a multi family is a great way to get started and get your feet wet.good luck!

So, it will be a lot of unexpected cash.