Now, the bank typically wants 6 months of reserves- will the bank except the equity I have in my personal residents as sufficient holdings for this?

The property looks to be newer than 70’s/80’s therefore probably will not require 10% of Income for Maintenance.   5% would be sufficient for now.  

@Jordan Little, I think 48 hours is sufficient.

Is it legal to only have a through-the-wall a/c unit WITH HEAT that is designed for 550 sf? I'm doing minor rehab to a 988 sf house that does not have central air/heat (location: east of Orlando, Merritt Island).  It ...

The other issue some of my clients just ran into in Forest Park is something called the "self sufficiency" rule.

I personally only require a NDA in more cases prior to financials, and that should be sufficient to get financials an LOI is not usually needed.2.

If you get too busy to self-manage or, forbid, get injured/sick, you want to know the property is self-sufficient financially.

That two year period also gave me sufficient time to learn a lot about the different investing strategies, to sharpen my deal analysis skills, to continue to develop relationships with property managers, agents, banks, contractors, attorneys, and tax strategists, and to really lay out a plan of attack moving forward.  

I am OK with water wells but agree that rural areas and lagoons are deal breakers.I would add “lack of sufficient affordability gap” to the list of deal breakers.  

My husband's name is not on our house because I bought it before we were together, so we can't use his income even though his income is sufficient to pay our bills.