That gives you a buffer. 

>  I will also re-run the numbers by cutting back on the snow removal, lawn care, and pest control frequency as well (she didn’t mention any current “bug” problems, so I just assumed that was a normal expense that a landlord would have to take care of just in case);> Not necessarily trying to BRRRR this property, I just included the estimated rehab/repair cost of $23k for the new roof and a buffer for anything unexpected that might come up in an inspection.

This whole situation screams out why all investors should retain some of their earnings as a buffer for economic situations. 

There's a reason for the high cap rates; they are riskier areas, therefore, you must have higher cashflow to buffer it.

Just make sure the numbers make sense for your situation/goals and build in some buffers with your analysis like others in this forum have said. 

Just because youre approved doesnt mean that you have to use the total approval amount, but it also provides a bit of a buffer incase you run into a situation that may require the additional approval amount (ie.

In a market where appreciation is expected to be stronger I think it is ok to accept lower cashflow but I would never go cashflow negative and I think you should always have some buffer built in so that if rents go down (yes it does happen sometimes) you're still cashflow positive

right you are @Huong Luu. it doesn't have any buffer

One unexpected call like this can wipe out your cash flow for an entire year if you're into the wrong deal, and you don't have proper buffers budgeted in your numbers from the start.Bottom line, run your numbers conservatively and get into the right deal.

Gross Rent > mortgage p&I + ptax+insurance +200$ buffer for vac/maintenance.