We had to put in some expected repairs (electrical/plumbing) as well as very unexpected repairs (sewer line collapse/back up, emergency bathroom repairs including a new toilet/floor and subfloor/new fridge/new water heaterI think we spent 20k + that first year!

Also if you're investing out of state and get hit with an unexpected cap ex it's going to wipe your cashflow for quite some time.If you have people you trust and can rely on in other states that will help you manage and run your assets you stand a better chance of getting yourself a well-performing asset.Whatever you do, make sure you pad your proforma by adding in contingencies to your budget and by increasing your projected hold times.

There’s also no shame in saving up until you’re able to afford a down payment / closing cost and to have cash reserves in case something unexpected happens 

We reminded ourselves that the higher the profits the more we were protected if a recession or unexpected repair hit.Over the past 18 years, I've innovated a strategy that makes a big money b/c it adds big value.I'm starting to share our strategy with a blog.

First off, just a rule of thumb, but I budget more like 20% for overages in terms of unexpected costs.

I used a significant amount of my personal emergency fund for the unexpected repairs.

(I have one brother so there would need to be some agreement and language that if my father passed unexpectedly, that a percent would be as payout and not actual ownership percentage of the property, etc.).

Thoroughly figure holding costs, expenses, rehab costs, and build in a fudge-factor for unforeseeable hurdles (labor issues, material issues, unexpected problems, etc.)

You've already named all the main outlets for reaching travel nurses.

One of my tenants wanted to add an electrical outlet half way up a wall so he could mount his TV and not have the cords showing.