I have reserves saved up for my first property.

Here are my initial thoughts:-Making the offer contingent on seller showing me background check documents from their due diligence-Requesting for a walkthrough of the property after the offer is made, and reserving the right to pull the offer if the house is not maintained wellAre these ideas practical?

Ive probably only had maybe 20-25 incidents in 8 years and over 30,000 reservations.

I have a pretty large balance sitting in an account with her which included balances From not getting paid the last two months of rental income and  tenant deposits and maintenance reserve funds. 

Keep money in reserves if there is issues with property 1 or 2. 

So, yeah - they're gonna want out ASAP.Lotta folks will be squeamish about such renters, but my advice is to do your due diligence and see if it's worth moving past your own reservations and just being a landlord.

This is called having a cash reserve for the business.

But since we put plans in place for maintenance reserves, we have those funds set aside and while still painful, at least it is not financially impossible for me to cover something like that.  

I would have serious reservations moving forward with this person to complete your project.

. - Maintenance & Repair: 5% of total rent- Cap ex / utilities: 5% of total rent- Property management: 8~10% of total rent- Misc & reserve: 5% of total rentFull rent: 4800(rent) - 2600(PI) - 800(TI) - 1150(Expense) = $250/mOwner occupied: 3600(rent) - 2600(PI) - 800(TI) - 1150(Expense) = -$950/mOwner occupied & no PM: 3600(rent) - 2600(PI) - 800(TI) - 700(Expense) = -$400/m I thought it would be $0/m if owner occupied although $400/m for myfamily is low enough.