Fortunately, with the accident of perfect timing, we took a pause in 1985, ran out of cash, and didn't get back in the market till 1994.

A what if fund is just a little insurance fund you keep because “What if” your car breaks down, Get sick, major accident, renovation funds Ect…The money is tax free and since they owe so little if they take out cash and go back into a 30 year fixed it will more than likely be close to the same payment they have now.

She left the property since the accident and claims the water heater, furnace worked fine, but it could not happened as the gas was shut off.

I do agree that the pool is a major liability so I'll have to shop around and potentially talk to a lawyer or two to make sure I'm adequately protected if there are any unfortunate accidents.

While some of the condos do also see special assessments, you can also see large unexpected expenses with a single family home. 

The investment game is all just math—if you do the math well (which includes accounting for the unexpected by low-balling your estimates) then your investment decisions don't have to be stressful emotional ones, they're just decisions that are either smart or not smart after you break them down on a calculator.Which extends to the last point that I've come to believe completely—your rental portfolio is a business.

This allows you to survive if something unexpected happens, or to invest again once you get some confidence and learn more.Trust your research, trust your calculations and ultimately trust yourself.  

The primary causes of being over budget were unexpected plumbing problems which then caused extra problems with the drywall and a decision to open up the house after the original budget was established.

I started doing some home flipping from 2001 - 2009, then got into buy and hold.I am at a cross roads, so I recently sold some properties, in an effort to have a portfolio of quality over quantity.Not exactly sure what my next move will be, the big challenge for me has been learning about tenant issues, and dealing with some unexpected repairs, both my wife and I took a course and are IPOANS CAM Certified (Certified Property managers).We only manage our own properties, plus have a couple of hired property managers to help with some out of town units, however, I have been studying tenancy rules, laws, and have become addicted to answering property management questions.What attracted me to join this site, is all the different types of real estate investment people are involved in.I look forward to participating in the forum.Michael P Currie

The Code guy shows up with a Code lady like this is an auto accident and they got to have six cops on the scene.