@Mohit Gupta  depending on number of occupants your regular insurance can cover it, read the policy, ours covers two roomers. 

Cancer/heart need to fly home.Over the course of this post will cover the following Real Estate angles. 

My bookkeeping firm provides me with a steady active income, which allows me to keep doing deals, cover unexpected expenses, and navigate the occasional black swan event.

If you want out of the deal, 6% interest isn’t even enough to cover inflation, we deserve way more interest for use of our funds and the profits Werner Mercado is making at our expense.  

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

Getting into the house and house hacking at the very least (when done correctly) puts you in a better position to save more aggressively especially if your entire housing payment is covered.

@Robert Quiroz, I know this is fairly well covered at this point, but I align with Robert...  

.- The bathroom flooring was covered in mold and needed to be replaced.- The kitchen sink was unsecured and fell into the kitchen cabinet.- My insurance was cancelled until I fixed roof issues.- Debris littered the recently occupied unit, the basement, and all over the back yard.As mentioned, we had an initial video walk through before the contract to purchase.

i am not looking to be spending my days on the lake, I am looking to replace my day job income, and growing my portfolio.... but it is important to cover my costs first, which not 20k/mo but, that is what i'm accustomed to regularly (or more). 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.