Rule of Thumb for cash reserves?

[Samantha Soto]

Is there a rule of thumb for how much cash you should keep on hand per unit? I have set aside 5k per SFR in case of repairs. I would love to hear what other people are doing.

[Samantha Soto]

Thank you all!  This info is helpful!  I want to keep buying more properties, but also do not want to neglect my reserves.  I think my idea with 5k/property was that money could always be pulled from another property's account if absolutely necessary to cover repairs/capex/vacancy etc.  However, being as I only own 2 properties right now, 10k is not a ton of reserves.  Once I have 5 properties and 25k put away I might feel more secure to face whatever arises.  I love hearing everyone else's process and way of thinking about it.