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.

>  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.

That gives you a buffer. 

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

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