Then make sure you have sufficient reserves for emergency repairs.

It is my understanding that the minimum STR reservations are at least 30 days (also I see a lot of listings on AirBNB for 28 days minimum - why is that?). 

For FF tenant have a direct booking site where they can finalize their reservation.3.

Upstairs tenant is in the reserves and has been there for a year and a half and has no plans to move.

Opening bid is $150K, although there may be a reserve. 

However, I started out with a small cash reserves account to cover CapEx, Vacancy, and Maintenance.  

Does lender factor in that next paychecks(January 2nd/16th funds) so that you can use 100k or 110k(two 10k from recent/new paycheck so no 60 day seasoning) or is 90k the only funds you can use for downpayment/reserves?

Are there any contingencies or reserves for unexpected costs?

See attached Excel summary sheet.Investment Highlight89% Physically OccupiedSupply Index in a 3-mile radius of 6.8 SF/Capita, 5-mile radius of 7.7 SF/Capita, and 10-mile radius of 8.3 SF/CapitaAdditional Income generated from 4 mobile home lots and 1 mobile home (Not Verified, as thus not included in underwriting assumptions)Key Underwriting AssumptionsDown Payment 25% of Purchase PriceEstimating a CAPEX/Repairs cost of $150,000Estimating Operating Reserves of $10000Stabilized Vacancy and Concessions/loss to lease at 10%Using a cap rate of 7.23%Key Demographic DataTotal Square Footage 21,130 Supply Index: 6.3Population 3,338 1 Yr.

If mixed in with your deposits and reserve funds, you may accidentally spend money you shouldn't have.