How much should I save before purchasing my first rental?

[Darnell Pierce]

Hello all, I'm an aspiring real estate investor in the DMV area looking to purchase my first rental. I'll be using my VA loan to finance this property. I spoke to a lender and was pre-approved for 300k which I plan to use in order to purchase a single family home, (3 bedrooms and 3 bathrooms) live in the basement and rent out the top level.

I’m curious as to how much money I should save before closing on this house and what factors should I consider when deciding whether or not it would be a good idea to become a landlord. If any other information is required, please don’t hesitate to ask as I would be glad to tell you. Thanks in advance.