You have enough cashflow to cover unexpected issues.

I would also recommend in your budget having a “contingency” item for unexpected surprises, especially if you are working with a lender and old buildings.

Said in other words, fix it right first, then more often than not, you won’t need to do additional unexpected repairs.

We have just above 100k available to us so unless we can find a property around 50-60k, we wouldn't be able to pay cash without leaving us with little to no money for rehab/holding costs/any unexpected issues.I have been looking around areas I'm familiar with.

Of course they come with their kinks but I believe that I save a ton when unexpected repairs come up.

That is, you're bound to have unexpected repairs and vacancies.  

@Jon Holdman What ways do you handle  unexpected issues when working on a house you are trying to flip, can i get an example of a difficult project you came across while flipping and how you solved it? 

That is not the case with real estate who by sheer accident (not because they are smarter than other investors) are unable to engage in this reckless behavior.Furthermore, in private markets like RE, prices are not marked-to-market daily.

However if you don't try and ID them, they do not all happen by accident.

If you have to unexpectedly sell sooner it's going to be more attractive to an investor to have tenant paid utilities.