Staying as liquid as possible might also help you handle CapEx, taxes, small repairs, and so on.Let me know if you have any questions—I’d love to help in any way I can!

Repairs: Add a pool ($77.7K).

I perhaps naively went ahead with the registration and inspection after completing purchase of the home, and wound up with a hefty repairs bill of around 3k.

They didn’t completely destroy the house, I did keep most of their security deposit and used it for the repairs, along with some of our own cash.

A broker shall not be responsible for supervising, nor shall the licensee be responsible for operating, within the scope of the brokerage or within the requirements of this chapter, activities that would be considered property management, including leasing, maintenance, and repair, so long as the real estate being managed is "individually owned" or "entity-owned" as defined below:(1) "individually owned" real estate is real property in which the licensee holds an ownership interest; and(2) "entity-owned" real estate is real property owned by a corporation, limited liability company, partnership, or trust, within which entity the licensee holds an ownership interest as an owner, trustee, partner, or officer, or in another beneficiary capacity.

Our current manager is in Huntsville and it is becoming clear that we need someone more local to Cullman who can be on top of showing our listings and taking charge of maintenance and repairs as needs arise. 

those 3000 jobs would get coffee and need dry cleaners and cars repaired etc. 

As an example I was looking at a multi unit, smaller building and within 90 seconds of viewing the proforma I saw the maintenance/repair figures were "low".

Acquisition Target: $730K-$780K; ARV: $900K; Repairs: $120K.

Use the brokerage account to fund the downpayment and repairs to bring it up to the comps in the area.