What's a "Good" Number To Set Aside After Purchasing a Rental?

[Peter G.]

Hey everyone! Thank you so much for checking out this post. Just you clicking means a lot as I know there is only so much time in a day and every ones time is valuable, so again I really appreciate it!

A little background on my situation over the last 10 years I have been fortunate enough to be able to purchase and own free and clear two 3 bedroom 2 bath houses in the Oklahoma City/Edmond area. These houses have been doing amazing for me over the 10 years I have only had 3 separate tenants in one property and only one in the newest property(3 years).

Both the properties are bringing in a total of $2,260 I am paying right around $600 total a month with property tax/insurance & 10% to my property manager netting me around $1,660 profit each month. 


Now that you know a little a background I am strongly considering borrowing against one of the rentals and using it to put a 20% down payment on a 3 bed 2 bath house(s). With that said I want to try to be as smart as I can with the money from this and I was wondering what monthly expenses you guys set aside for investment properties as a cushion? 3 , 6, 8, 12 months? More? Less? 

Thanks for reading and for your replies,

Peter G.