I get there are some things like yard maintenance, and I know there are unforeseen expenses that can arise, but is this mostly for putting away $$$ for future expenses?

The common problem here is recent comps in the area.

This is a common beginner mistake. 

Hello,I just closed on a multi family property and the old owners told me they would not supply any appliances.They let the tenants know that the existing oven, refrigerator and washer were able to be used by the tenant, but would not be serviced or replaced.Is this a common practice?

@Michael Daniele, Purchasing with a partner in a 1031 exchange as tenants in common is fine. 

One that happened to cross my mind (which may seem silly), was somthing as simple as "What happens when someone drops a jar of pickles on the floor in a common area?" 

Seems to be the common trend besides reading books to educate myself in rehab cost estimates.

They can advise you on funding, title, zoning, market value, property issues common to the local area, and much more.

And a % of the real estate held as actual real estate to be sold to 1031 investors as tenants in common or purchased by you as the second half of a 1031 exchange and then used in conjunction with the Partnership

Although this is common in the DC area (where I own one rental) it is not as common in NOLA and it has created a few challenges.