I wouldn't do it unless you got a good deal, remember the banks going to let you refi up to 80%,also the property has to be rented out for 6months prior. if I were you I would aim a little lower with price jus incase any unexpected repairs and cash reserves

I know I could make roughly $400/month if I put 50% of rent away for unexpected costs. 

It's a bit off putting when an unexpected person is found in your yard.

., you'll have to deal with expensive repairs while hoping your home's appreciation will come out positive.If the market corrects and you have to hold on to the property longer, you could be losing money from having to handle repairs while you wait for the home price to go up.Forced appreciation through rehab is your way to minimize these unexpected costs, not speculative appreciation.

Then you can blame the lease when something unexpected happens.The lease/rents will be based on a portion of common area expenses, like the property insurance and taxes, the occasional re-seal the parking lot, seasonal sidewalk clean-up and roof maintenance; plus the upkeep of the tenant's space - spell out who will maintain the furnace and who will pay the plumber when the toilet backs up?

I've got a 2000 SQFT single-family in Thornton coming vacant unexpectedly in mid-December, and it's going to need paint/carpet throughout the interior.

On Nov 10th a tenant moved out unexpectedly even though her lease was through March 2019. 

Its unexpected and comes from your heart. 

No sweat.As a real estate investor you need to maintain sufficient reserves for the unexpected.

Delighted, Trevon Hutchinson