I'm totally with you on umbrella policies and I will be learning a lot on these in near future. 

@Gal Kochavi-JonesWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

Fix what is needed and budget for future expenses as they come up.  

It's a small one-bedroom unit but super close to the future National Landing.

Do not count on anything that is based on the future. 

Tell as many people as you can what you are doing and what you plan to do in the future. 

@Abel Lopez also consider that, when you'll need to exit and pay the balloon payment to the seller, that bank interest rates will likely be higher than the are now, so be conservative in you future projections.

@Royston LoboWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

You should definitely account for those costs, but you can't predict the future.

If the cost is near accurate it would be something I would consider as a value add in the future.