I have cash reserves and money in retirement accounts, but I don’t want to dip too deeply into my reserves.

I would have reserves beyond that though.

Not your debts or your income or your DTI or your reserves or the extra guidelines and underwriting and overlays that that a residential mortgage company can have Do you require a personal guarantee? 

That said, if you can afford it and have the reserves, and more importantly think you have a decent chance of increasing revenue with the vacant units then I'd probably go for it.

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

There are FTHB bridge products where are you need is a 640 score and 9 months of reserves.

Keep reserves. 80% of buyers experience a major unexpected repair in the 1st year of ownership.4) Talking with an agent who can help increase your knowledge of the process and owning a home. 

Quote from @Jim Stanley: You should reserve insurance for large claims.Contact the city and report the issue to them.

For the second time, I've had a guest cancel a reservation, initiating a refunding through my payment provider that brings with it significant transfer fees because Booking.com heavily promotes their "book for free, pay on arrival" policy, which is not aligned to my management platform policy.

See what down payment and reserves you need and make sure you have that in place or if not, you know what your goals are for 2025.