If you're in an hot market (i.e. easy to rent), you can get away with holding less liquidity or vice-versa.

As you know the Vegas market is hot right now and I'm fortunate to be sitting in the driver seat.

  (1) the Philly market was so hot I kept getting outbid and (2) I was hesitant to 'pull the trigger' and raise my initial offers. 

I always double check my rent estimates with what is currently on the market (craigslist, trulia, hot pads) to get an idea of what amenities are being offered for that price.

@chris martin  @larry t Ok this for me is a clear lessoned learned before i reach out and look to ask for help i have to be extreamly clear with what i am asking for or looking for so yes i am a contractor and i do make good money i wasnt trying to boast or try to make my self look like something im not either i realize now i didnt express my self clearly and i appologize for that because clearly some people are taking what i explained wrong  I may be coming off the wrong way but that is clearly not my intention how ever all i was looking for was a good hard money lender in my area thats all nothing more nothing less this deal is an off market deal she brought to my attention And what I consider to be a smoking hot deal others may not feel the same way because you may be more seasoned than me and  you may consider a smoking hot deal a 2 million dollar deal So this is all about a matter of perspective and experience also fellas im not claiming in any way what so ever to be a seasoned vet when it comes to investing either and from what i have learned its alot better and smarter to invest with someone elses money and partner up with someone who knows more then me so that i can get to a place where deals look better from a different perspective plus if the investment is right of course do it and if it makes sence  then great move forward and if not then be smart and pull away its all common sence and i do realize this there will always be a deal out there 

Vegas, even though very hot in the summer, does not have a big drop in the summer because people come for the shows, glitz, gambling. 

On very hot days, not quite enough.

We are in a very hot market with the expansion of the petro-chemical industry booming.

Hot water tank is 4 yrs old.

I work exclusively with investors in this market, and even the white-hot areas like East Nashville still have consistent opportunities to flip/rent.