Term life insurance is designed only to cover the risk of someone dying unexpectedly when they are young. 

And you'll have new cracks in unexpected places, old cracks that will not close, but instead enlarge.

Hello bigger pockets community,
We are looking at a house that has potential just as a duplex it cash flows $1500 a month. When we went to the property, we learned that with minor changes we can add an additional one...

An unexpected read that really stuck with me and continues to produce positive change in my life is Chris Bosh's new book, Letters to A Young Athlete.

A series of things happened: 1) the contractor who was going to do the work to fix some things up had an accident (and he was just going to do the work himself for a lower rate as a friend, so no back up) 2) I got pregnant and have been completely sick for the past couple months and couldn't do much and 3) the holidays have been very busy with visitors, so we have used the extra space to host. 

I would add that there are unexpected expenses and more deals around the corner for which cash reserves make sense.

I've heard many horror stories that involve high vacancy and unexpected plane flights across the countrty...

Also Just to be safe to evict a bad tenant I would just do the 20% and keep the rest as fire power for any un expected issues

Education and networking - here and at local REI meet-ups - has brought me unexpected returns so far...so if I could offer one piece of advice, it is to definitely continue networking!

Even with a personal home purchase you should have some money stashed for the inevitable unexpected repair.