My other 3 deals are cash-flowing nicely over $700/month, even though one took a while to stabilize to get there.Here's some information about the deal:- Purchase Price with closing costs: $138,000 - Expected Rehab: $30,000- Expected ARV: $210,000- Expected rental: $1,900- The Rehab turned out to be $55,000 --> a lot of unexpected problems, broken pipes, mold, roof, city requirements and overall bad due diligence on my side.

15 year mortgages are DTI-killers, which can turn into unexpected deal-killers.  

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction. 

Because they gave you all this money up front, they probably don’t have much left to handle any unexpected problems or bills.

Thanks Nathan They want me to carry insurance with 1,000,000 dollars for each injury or death of one person in each accident or occurrence and 500,000 for property damage in each accident or occurrence. 

For your first deal, you're not going to knock it out of that park, you will go over your reno budget, you will hit unexpected/planned for things, etc...as long as you won't end up homeless if things don't pan out, these lessons will be how you will learn to persevere.

Would you mind sharing a little more on the unexpected items that results in over-budget?

In September, our tenant's employer transferred her unexpectedly, so she had to leave with little notice.

On the alternative, can you sustain cash flow or at least break even in an unexpected market downturn?

Our ARV came out lower than I had hopped- actually it came out exactly where I had ran my numbers at, but with unexpected permitting requirements and increased material costs the project was about $70,000 over budget for the rehab.