I am more concerned about being in a car accident and having someone trying to sue for all my assets.

The lesson being, you may have enough to secure a place (maybe not in CA right now with 25k) but you need to have extra money in the bank when for unexpected repairs.

I like to factor in the "unnoticed" repairs like plumbing, and unexpected equipment failures.

After two years and unexpected success, my WHY changed.  

Management is not responsible for lost or damaged clothing I'd also add a "management not responsible for stolen items" sign, and perhaps a general "you use this space at your own risk, management not responsible for accidents in this space" -type sign...

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.

Make sure your numbers include all hard and soft costs, and that you have money still left in the bank for unexpected occurrences in construction. 

But we both know this didn't just happen by accident.

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.