Any unexpected issues you have ran into?

Besides flashlight, measuring tape, telescoping ladder,outlet tester, and electronic thermometer\ moisture detector what else should I pack.

And personally I avoid those at this stage of the cycle...but I know others who are okay with this but require a significant buffer in the pro forma to cover unexpected price increases.Also, I personally avoid short-term flips (and I would consider a five-year deal to be too short-term) and instead prefer long-term investing (7 to 10 years or more).

First off, it was unexpected.

Originally posted by @Bhanu Kuna:these are all in or around PhiladelphiaFrankford Philadelpia -- Starting to get interestingMayfair PhiladelphiaTacony Philadelphia -- New luxury apartment project gives the neighborhood an interesting and unexpected vote of confidence.

If you manage the properties yourself, you'd probably make around 60-65k a year (before unexpected expenses). 

Do you have extra reserves to cover unexpected expenses other than your down payment money?

Not necessary and in fact many people probably do start with OOS investing but it might have some unexpected challenges.

As these things come up you want to have a % set aside each month to build up these reserves in case of unexpected costs.

I'll keep a flashlight, measuring tape, and occasionally an outlet tester on me to check for grounding, reversed polarity, and the tape for measuring room sizes to ensure conformity to bedroom standards (height, fsqft).