A recent court ruling came down against a landlord/owner who set a utility limit with a tenant and then imposed an "over-use fee" when the limit was exceeded. 

After more than doubling my income in said job over the last year (having started as an intern), I repeatedly find myself looking for loft apartments twice the rent of my current place (where I actually like living), unnecessary modifications for my car and the like. 

Some also impose a specific down payment requirement.  

I don't want to impose on her personal life, of course.

Best to eliminate some un-necessary risks. 

Also had a bad dispute on money in the end and caused unnecessary tension to this day. 2.

Also had a bad dispute on money in the end and caused unnecessary tension to this day. 2.

There is certainly alternative/subordinate financing out there that might be more accretive to your returns, but IMO that introduces unnecessary risks/headaches on your first deal.Re: a $3MM total deal size, that's going to be a bit tougher to hit your $120k/yr net cash flow after debt service number.

I look at my house, and I've spent so much money on stuff in here, and it's very nice, but just all so unnecessary.

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, you should sit down and assess your personal finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.