Quote from @Jaycee Greene: As long as you feel you can cover large capex, there's not much need to keep much cash in the account, though I would keep the SD in there, so it looks like you're not co-mingling funds. 

Would that loan include the renovation costs based on the ARV?

My suggestion is to build a spreadsheet and include the net cash flow to you for every month of the deal, then use the IRR function to figure out your return. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

Feel free to reach out any time.

We have lots of interest and showings, so we feel our rental rate is right at market.

Through your local bank that you are using, are you reapplying for each new home for a seperate construction loan or are you setup as a credit line with them and just submit a new budget for each new home I do want to also add that my banker who is the VP of lending and branch manager has been banking me for 30 years..WE have been through all he ups and downs including the GFC were I got almost totally wiped out financially..

Quote from @Serena Lemmons: Hi All, I have been researching real estate investing for a while and feel like the next step is to meet some investors in the area that I can learn from.

While it can feel like a hassle, these inspections help prevent bigger (and costlier) problems down the line.

For me, that includes late fees, the cost of the eviction filing, etc.