renting a new property quickly

[Andrew Lackey]

Hello everyone!

I am new to the investing world, and I'm looking to learn as much as I can before finding my first deal.

When you purchase a property to rent out for passive cashflow, how many months worth of expenses do you usually keep in reserve? I'm thinking of a scenario in which you purchase a house to rent out, but can't find a tenant - resulting in the bank (or whoever you borrowed from to get it) repossessing the property once you run out of money to pay the expenses.

Aside from purchasing properties with tenants already in place, is there any other way to ensure the property will be rented before you buy it?

Any advice would be appreciated.

Thanks!

-Andrew Lackey

North Carolina