Addicted to sending offers. Stop, Wait, & Save Cash??

[Alice K.]

Hello there!

So, this is my dilemna: I, like you, am very very into real estate. Perhaps, to a fault. 
Here is what has been on my mind at 2AM:

• You just submitted an offer. Upon reviewing your bank account, you would have very limited liquidity left post-purchase.
• You have another multi as well. 
• You want to be conservative after hearing '08 horror stories, but you also want to buy because this is one of the few that looks decent in your area.

You have some friends who might be able to come in and partner, but you also tend to be a lone wolf.

Would you do this? (Or, how much do you like to have in your reserves?)

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Facts (this question is more about your mentality, but in case you're curious)

• Triplex. 70's. Appears well-kept. Class B-/C+ 
• 190k -->~35k down  (includes closing cost)
• Tenants are there, 625 each unit (allegedly, still need to see leases and payments)... 
• $300 cash flow post 5% vacancy, 10% capex included, PMI deduction, water, tax, and insurance.
• Rehab: ??? (Still needs an inspection, so that could throw numbers, but let's pretend it is ok for now)
• Work / time: ??? (I try to remind myself "Is it worth the time/energy?") 

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Thank you in advance for your thoughts! 

Best,

~Alice