I use Owner Rez and the Schlage Encode integrates so that the lock automatically assigns a code to each reservation and includes it in the check in instructions.

I think 50k would be for a good downpayment and reserves.

.)-- Interest Reserve TBD-- 500 Appraisal (est)-- Builders Risk Insurance Policy TBDTotal Cash to close: 29172 + 6 months payments (not in escrow but demonstrated)You will likely need to wait 6 months to refinance.

There are also grant programs for 2 units that have NO PMI and don't require 6 months of reserves.

That type of investment works just requires prudent management to ensure you have reserves or manage cash flow to cover the winter months.

The borrower / partner should have assets to show  (25% down payment + closing costs+ reserves)5.

If you don’t have the right temperament and sufficient cash reserves, you should consider selling the property and investing proceeds in passive type investments. 

If your reserves and your CapEx are the same, do you also keep those funds separate from your 'business' account?

You can't buy much with $50,000 and I really hope you understand the importance of keeping some of that in reserve.

If you're self managing, can you explain how you handle the cleanings after each reservation?