Keep in mind that only the "building basis" can be segregated and will benefit from accelerated depreciation.

I do have several S8 rentals, while they are generally performing well, there is more paperwork involved in the leasing and the strict inspections can be quite a pain. 

Do you need cash flow to build more capital for the next property?

Did they build their portfolios overnight?

I have been a Building Contractor for over 30yrs.

You're better off focusing on specific markets, specific neighborhoods, analyzing numbers, and building an ideal buy [box].

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your 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.

In my market, which is a fairly economical place to build, I am friends with full time builders that are in their properties about $150k/door for construction level finishes.  

He continues to deny he lives there, lied to the police when they came with a code violation and inspection, and most recently overloaded the electrical and blew/snapped the line! 

The contributions are lower so it takes a while to build, but once you do, it's tax-free investing.