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

For future reference, this is legally unnecessary.

Buildium has way too many unnecessary features at a cost until you have at least 25-50 units.I like Zillow for background, credit, income verification because applicants can pay for it all up front and before you even show the property to someone and waste time you already know if they are qualified or not.

The steps are quite simple: save religiously, build your credit, limit unnecessary debt, get pre-approved, work with an investor-focused real estate agent, submit offers, and close on the deal. 

It's way too easy to fire off something via text or email that's emotional or unnecessary.

STRs are generally not a rental real estate activity under IRC Sec 469 so discussing RE pro in the context of an STR is usually unnecessary. 

Do not write out un necessary paragraphs explaining your life and how much you love the property. 

In my experience the appraisal is unnecessary and not required by most HMLs. 

I assume the tenant has been screened by the previous owner, but would want to rescreen once taking ownership or would this be unnecessary? 

Stay organized, communicate effectively with your team, and promptly address any issues or delays to keep the project on track.Streamline Material Selection: Choosing materials early in the process and avoiding frequent changes can help save time and prevent unnecessary expenses.