$ set aside for rentals= survival

[Matt S]

in general is there a rule of thumb when it comes to how much $ to set aside for each rental property. $ that would be used for repairs, to cover late rents, etc...?

I have a tenant who is now late 2 straight months and i believe we are going to have to evict. But I'm looking at probably covering $2k in mortgage(2mths) and any repairs...I can't see how if you had 5 houses and this happened how any of you are still in this biz? What is the trick?