We just had a meet up with a few landlord, and there was an argument whether it's healthy or not to communicate with tenants through text messaging.

Enough for a 20% down payment and healthy reserve account if needed.I'm super excited to start digging into the world of real estate and wanted to tap into the community for any words of advice, or resources/books that have helped you the most. 

Look for deals where the NOI can carry the debt with a healthy DSCR day by year 2 without a reliance on year 3 refi or exotic bridge debt.

I was attracted to Buy & Hold because i want to generate cashflow and start setting up a foundation for more fun and lucrative RE projects and a healthy retirement income.

.), and how healthy is the HOA financially, ie: are they adequately funding reserves for capital improvements (roofs, paving, etc.) and are there any current special assessments?

Overall, Zillow's execution doesn't seem healthy, creative, or savvy. 

So, they know they will be buying a decent home at a decent price and they will get a cut of a healthy commission.

Be aware that the average person only stays in a home for 7 years and when you have to go through a foreclosure you may only have about 20% of those houses "healthy" enough to go back into the market without repairs and big cosmetic work to be done. 

It also forms the basis for what you feel the fair and reasonable purchase price should be compared to the asset value you think you can create after you buy it.Conducting pro forma analysis in this way employs but mitigates any sales "puffery" that may be in play and, speaking personally, allows me to maintain my blood pressure at a healthy level.

For commercial properties, I agree on keeping the debt 50% (or 70% as long as you have a healthy reserve level to factor in the longer vacancies).