Just be sure that you have a lot of cushion to cover your costs, even if you lost your job or something big and unexpected happened. 

You need to have enough cash reserves so that if you are hit with a couple of vacancies at the same time, turnover costs and an unexpected repair, you are fine. 

A couple highlights:MFHs can usually render better more cash flow since they typically cost less per unit compared to a SFH.MFHs can save you on capital expenditures since the roof, foundation, and other components are often shared.However, MFHs tend to see a higher turnover, I remember always feeling unsettled staying in a multi-family, but some people live in them for years.MFHs are often hard to value since they vary greatly in type and location.

What if one unexpectedly drops into your open house to chat?

The added financing over the existing loan, or in the case of an all cash in deal, is the "cash out" component in the refi...and where it gets its name from. 

I always add on 20% for unexpected overages that often come up.

Screen Resident Thoroughly:Placing the right residents can be vital to your success as a real estate investor and can help you reduce unexpected vacancies.

I'm more conservative in my approach but I'd say you at least need to have enough for the down payment, closing costs, etc. plus a healthy reserve so that you can cover a vacancy of a few months as well as the ability to cover the costs of any unexpected maintenance and/or capital expenditures.

Lots of old houses In our market as well.It’s far less about the agent if the house and more about the age of the major CapEx components.

I also understand there isn't a one size fits all (or maybe there is) but I wasn't sure if the reverse mortgage component adds another layer of complexity that would require a title company or attorney.