I plan to start searching for properties when I have 50k, but likely will have more reserved by the time I close on my first property.

I do have some reserves and can also offer some boots on the ground type work.

My advice is to have at least a 15% contingency reserve going into a rehab and your numbers should work out better.May your bottom line always be above the water line!

This presumes you make smart purchases that cash flow after paying all their expenses (Principle, interest, Taxes, Insurance, and a maintenance / Capex reserves).The risk of leverage is if your properties AREN'T making money - maybe you misjudged your income, or you run into repairs that cost more than you expected or budgeted for.  

A lot of DSCR lenders are technically POF lenders as they only qualify on 4 things: 1) valid driver's license 2) FICO score 3) rent is more than the PITI of the proposed property and 4) proof of funds for the down payment and closing costs and reserves.

Here’s a rule of thumb for allocating your cash reserves:1.

This is why it is important to enlist the services of an attorney sooner rather than later and have a reserve fund to cover all expenses until you are able to take possession of the property.

Once closed contact Airbnb and tell them the situation, having all reservation codes ready. 

I would say very honest PMs who walked my Indy properties (after the I closed on the homes) or at least knew that neighborhood and an honest construction management company were very helpful - they all said I better add in a lot more reserves to the repairs and cap ex for old Class C.

You want to make sure that on the rehab side that you aren't stretching your reserves too thin.