The NAHB index just came out and had an unexpected drop so hopefully things will cool and so will the ridiculous building costs. 

She always told me that she wanted me to own this property but she passed away unexpectedly before she could make me a Will I know that is not any good proof.

They never told us they were charging and since we told them before move out we didn’t have the keys, it was unexpected.

I figure it is worth sharing so that this doesn't happen to any of you.So what was this unexpected expense?

Management is impossible to select until you have picked and vetted a firm- while it is an operating expense, you're likely going to pay from GOI...so assume closer to 12% NOIYour vacancy is pretty low, but it's all relative here...I would at least set aside 1-2 months gross rent for an unexpected turnoverIf you can insure a 4-unit property for $150/mo. you have an awesome agentAssuming 50% of your income will go to OpEX is pointless.

That doesn't give much wiggle room for unexpected expenses (or expenses that are more than your estimates). 

And if one year you unexpectedly need to replace a roof and a furnace, that place needs cash instead of generating it.So I'd be curious about how much you have to invest and how much you need to gain in monthly cash flow. 

I'll have about 20% of the purchase price in the bank but I will not be putting 20% down, this is saved for minor updates and to cover for unexpected vacancy expenses, I'll be going for an FHA. 

Inspection concessions cover unexpected or non-disclosed problems.

Life is unpredictable and unexpected repairs/vacancies could really stir some chaos if you try to buy when not ready.P.s.