In such a short time she could be ill or in an accident and the notices you already sent will probably get you a reaction.

I need to protect the house somehow from accidents.

I need to protect the house somehow from accidents.

Were there any unexpected laws that came up when you utilized seller financing? 

I don't consider myself a RE Inv. but by accident, I have two paid off rental homes.

When budgeting, include a contingency amount to cover any unexpected expenses that may arise during the renovation.

That was the most unexpected part.  

My thinking is that while it is really smart to start with cash reserves, I also want that bucket to fill itself back up when it inevitably does get hit with unexpected expenses.

Third, you run the risk of the unexpected changes in the environment - from accidents to natural disasters to riots and Covid.

It's definitely a team effort and we're grateful to have a solid team.Here's what happened near closing - Our bridge lender wanted to change the loan amount 2 days prior to closing (reducing it by $325K) which would require raising the additional amount and diluting existing investor equity - fortunately we were able to sell them on why this would create too much of a risk for us and them.Interest Rate Cap Insurance - came in at $60K vs $20K because of interest rate environment & bond market volatility within the last month On our first acquisition we also had some surprises at closing - Insurance came in 3X the budget - for both our underwriting and the lender's (this is more of an issue specific to Texas)Lender required $100K more of CapEx expenses the week of closingAdditional unexpected insurance challenge - the corner of one of the buildings was incorrectly designated as being in a flood plain.