How much money do I need for a $300,000 rental?

[Chris C.]

Hello everyone. I’m trying to put together a budget to figure out how much money I need for a $300k investment property. The goal is appreciation and equity growth rather than high cash flow.

I get I’ll need $60,000 for the down payment. But what can I expect in closing costs (no points) and reserves to cover the period before its leased up?

I’ve got a rough idea, but I bet there are a lot of little unexpected costs I am not anticipating.

Thanks for your help.