Again, the BiggerPockets store has some books on this topic, or you can learn about it by watching podcasts, reading blogs, and interacting on the forum.

The Federal Funds Rate is the overnight lending rate that Federal Reserve Banks charge each other for overnight lending. 

Washington was the operating partner, with the land being developed for small farms, houses, grain silos, tanneries, barrel manufacturing facilities, churches, stores, etc. 

@William Johnny if you only have $250-$500/month you probably don’t have enough to invest now as you would likely need some sort of a down payment and reserves.

My 2 cents, Save more for the downpayment, closing costs and reserves.

Do you take all your cashflow and stick it into your reserves?

Have plenty of reserve cash saved up in case you need to bonus your trades to do your job next. 

A container of some kind from the dollar store with hand, dish & d/w soap, toilet paper, paper towels, a few trash bags.  

Prospective Tenant(s) understands the binder reserves the property for Prospective Tenant(s) until a Lease and all move-in requirements have been properly completed or Landlord exercises his right to rescind.

Quote from @Robert Bell: As a private lender, we use reserve funds as a way to gage whether or not someone is financially ready to take on a real estate investment.