If you have a road maintained by the HOA then set aside for that in reserves. 

For added liability protection, consider setting up an LLC for the rental, though this may have limited impact if the mortgage is in your name.This post does not create a CPA-Client relationship.

We would be happy to help you complete this step and set you up for success using the platform.

Are you locked in on the contracts with the current set of tenants?

FYI I do have plenty of reserves for my other units already, but would like to keep each property separate.My question is, where should I draw funds from to pay the least amount in penalties, taxes, loan interest, etc. from the following sources I have available:- 20 year 401k loan for a property- Sell a piece of my stock portfolio at 15% capital gains tax- Take a HELOC against an existing property- Private money loan from a trusted partner I have worked with beforeAlternatively, I could pool the reserves for all my properties to ensure I can cover anything immediate and know that I could always sell off a piece of my stock portfolio if needed and have the funds within 3 business days or set up a HELOC and only draw from it if needed.Appreciate any thoughts or what you have done in the past.

if you buy a random property on Zillow and turn it over to people you have never met, you will very likely lose money, get frustrated, and set yourself back.if you're serious i'd pick a market and plan on making several trips there. 

Each deal comes with a different set of surprises even for the most experienced operators.Take your time and don't rush it. 

A candid interview with 5 different sets of partners talking about their specific terms as far as responsibilities and costs would be a great show. 

Hi Jaycee,Chose this area because my partner already had a section 8 rental here that is doing well and has a team set up.I have no experience with section 8 tenants.Appreciate the advice on starting an LLC.

Each county in the US has S8 rent limits per bedroom, set by HUD.