When I was forced to escrow tax, not only did I have to pay 1/12 of the annual bill every month, but they also required a buffer of something like an additional 30%. 

Latest data suggests govt benefits have provided some buffer to CMBS rate as this declined in the latest data. 

Fr*The renovations is expected to be $20k*The mold remediation is likely to be $12k (based on a contractor’s opinion for a house of this size)*I asked for a $20k bid reduction to help as a buffer in case the mold remediation goes over budget.

This gives me a buffer and encourages the decent tenants to pay the last months rent and leave house clean. 

@Benj Ecker If you only have $35k total to invest, I would suggest buffering for some reserves as well.

I thought the project would have finished a month ago, and gave two weeks buffer, but the good news is that the renovations completed yesterday.

Use HomeDepot's flooring calculator to calculate how much flooring you'll need (it includes a 5% extra flooring buffer because you will mess up some cuts)On the mental side, whether it's a big construction project or a simple LVP flooring project, you will encounter set backs, problems etc... you're going to want to give up, take a deep breath and push on.

Why not put 15k towards your first deal as a buffer and learn on your own.

Rent needs to higher than PITI plus some buffer for repairs.

Buying at a greatly reduced rate buffers you from market corrections or changes.