I really like the idea of building in that 10-15% buffer for the unexpected.

I like to analyze conservatively because the renovation almost always seems to go over budget, so I like to have a buffer.

Pro tip: build a buffer into your budget for surprises.On the hard money loan, yeah, been there!

It provides a buffer between you and the tenant, plus you have the opportunity to learn what a tenant actually think of your property! 

That $20k–$40k range for light cosmetic rehabs lines up well with what I’ve been aiming for, and I’ll definitely be sure to factor in that contingency buffer (I’ve already heard enough “surprise” stories to take that seriously). 

Especially with the stronger income that co-living properties typically generate, you may have enough cash flow buffer to opt for a 15- or 20-year mortgage and benefit from faster principal paydown and interest savings.In some cases, more flexible alternatives can strike a better balance.

., HELOC) with a buffer for unexpected expenses.

And you will not have buffer if that stuff does come up and you need to fix a bigger ticket item.

Many HOAs are run well with adequate financial buffers to avoid needing to make large assessments, but that is by no means universal.

Professional listing management and a buffer between the public/agents and the seller.