Apart from keeping what I need as far as mortgage, taxes, insurance, and cushions for the unknowns, how do I know how much I can actually start pulling as personal income into my own personal  bank account?  

Luckily, we negotiated $3,000 towards repairs that the previous owner gave to us at closing and this was what cushioned our business account for this unit, making us feel a little more comfortable in the beginning.

If I sell my house, I can cover the down payment and purchase expenses and have about $40,000 cushion in the bank for emergencies.I'm really interested in house hacking, and I've read many articles, listened to podcasts, and heard many success stories about it.

One in Greenfield was actually a solid REO negotiation but after working it for a few months some dumbass came in and offered 50% more than I was looking to pay (still under list:) ).The thing is since you CAN pick up stuff really cheap every day of the week I want to make sure I have a cushion so these $40-50K places were getting $20K offers, which were the only offers sometimes which is why they would talk to me.I have done deals in Chicopee and Palmer off the Pike, less luck up along Rt2.

You are definitely over leveraged if the portfolio as a whole has no equity, and over leveraged on single properties if the same holds true - the equity cushion you leave behind in a property can be the difference between walking away clean in an exit scenario and pumping your own cash into the deal.

160 just sounds ridiculously low; they owe 85k on the mortgage so they would walk away with enough money for a down payment.Some additional info is that the seller wouldnt let me test the electrical so I am factoring in a full electrical repair into this as well for more of a cushion because of how sketchy it is.

If money is tight, you want to build up a cash cushion then move into rehabbing and buy and hold.

I have a ~$10k cushion and now thinking about how I can use that cash flow in a more meaningful way.

While the usual graph of risk runs higher when profits increase, the perception is, of course, the opposite: that when you're making more money you're better able to handle problems, have more cushioning built-in.

Financing will likely require you to have a 1-year operating expense cushion; with the property generally not being in tiny population area not too 'rural' whereby comps cannot be located.Reach out any time by phone or email to discuss anything real estate.Bob