How much margin of safety should a Realestate investor have?

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I am getting really close to putting money down for my first Realestate property. However, I am curious to know know if I should use my total 20% down to buy a property or should I keep looking to find a less expensive property in order to avoid using all the cash I have on hand?

My current state of mind is telling me to find a property that’s less costly, so I could have a cushion of cash just in case an unforeseen externalities arises after the purchase.