Usually your reserves for those categories will range from 25-30%, although maintenance & capex should initially be minimal since the home is new.

Looking at lots listed for 15-25k in Texas satellite towns to initially hold then eventually build class A/B duplexes. 

The debt went away initially (foreshadowing...).Fast forward about 2 months and I get a notice in the mail for 6 months of assessments from before my ownership. 

Start doing category 1 items right away, provide notice and do category 2 as soon as you can and finally prepare and get ready to initiate category 3 items based on your ability to handle them. 

In San Joaquin County (CA) it's taking up to 2 months for the court to process an initial filing of the UD action (they do notify the tenant of the action). 

The city is very open to this setup, with a clear permit process: $500 initially, plus a $100 inspection fee.

BTW I regret having posted the initial question.You don't regret posting it, you regret hearing the feedback.

The issue is this negative initial cash flow increases the amount invested which will impact ROI forever.I do not do flips, but if I purchased this property I would be flipping it rather than suffering that level of monthly negative cash flow on that cheap a property.Regardless if you rent or sell, add a closet to each bedroom.  

While the ordinance went into effect on October 10th, the large response to the Call For Action yielded an initial ‘grace period’ of enforcement until November 9th.Below is the summary of the ordinance.

However, many line of credits require initial draw so you may have to make payments on it.