How Much in Reserve to Start Out

[Alfred Litton]

I am taking a $240,000 inheritance and purchasing properties in the next several months.  How much of that should I hold in reserve? Some of the properties may not yet have renters.  The area, though, has fairly strong rental demand.  What initial or early expenses should I anticipate within the first months of purchase (assuming I do all rehab at the time of purchase, so that they are rent-ready).  What's a safe reserve?