Even if you somehow manage to get decent cashflow from a property in such an area in the short run, if the people are constantly wrecking the property, if the cops are getting called regularly, if rent is late, if the tenants are "sub-leasing" their apartment to 12 people and the house ends up burning down from 134534523452345 things getting plugged into one outlet (all of which happens regularly in these areas), then you're going to have a bad time. 

If I am looking for houses, I wouldn't buy a house with less than 3 bedrooms. if you have a non-confirming bedroom in the basement to rent out. 

Maintenance Costs: Maintaining multiple units can be costly, and unexpected repairs can impact your cash flow.7.

There was no built in microwave and no room on the countertop or an electrical outlet to put a microwave.

This little article just released by downtown indianapolis news outlet WTHR:Construction begins April 1 and is scheduled to be complete by the end of 2021.Caesars Entertainment announced a $32.5 million investment to expand the current gaming casino floor, as well as add more than 100 new jobs and millions to local and state tax revenues.https://www.wthr.com/article/news/local/indiana-grand-expansion-to-include-100-new-jobs/531-5f940e4b-9bfa-4482-b71f-47e24ea34b8fShelbyville also recently approved and began a $19M project redeveloping downtown district, funding grants and fledgling business subsidies.

They'll probably have to recut the microwave outlet assuming it's inside the cabinet.I would not leave a stepstool for the new tenants in a brand new kitchen.

Due to some unexpected reasons, the trust I am involved with had to sell the 1031 property quickly, it closes on Jan 25 and we have to identify a small apartment complex to upgrade to.

They also consider the HELOCs as a debt even without money being pulled out.

As stated on here even the most experienced builder can anticipate what can go wrong but can never anticipate how long the unexpected fix can take, sometimes you need new permits to solve the issue which can trickle down to time wasted and extra cost. 20% contingency is not always enough to account!

Does anyone have any suggestions or ideas on how to reduce this unexpected cost?