I'd say the ideal amount saved would depend mostly on what markets you're looking to invest in. 

If its single family I wouldnt bother with a manager but 2 or 3+ tenants in same building I would consider it depending on how hands off you want to be on the tenant issues and how handy you are

Quote from @Mark Cruse: Quote from @Jay Hinrichs: Quote from @Mark Cruse: I'm not sure how many are being laid off in the DMV but depending on how many, how could it not lead to a barrage of negative impacts?

It all depends on your goals.

Personally, I’m positive there are better general investment areas but depending on your niche and skills it may be the best one for you!

Depending on state law the buyer will have a certain amount of time to remedy this violation of covenants. 

If/when you raise the rent, and depending on how much you borrowed to buy it, I would expect you could do a cash out refi to recoup some of your capital. 

Depending on how big your portfolio is it might be more or less expensive for you.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

.: Quote from @Alan Asriants: Hey Carlos, all depends on your lot size, what kind of unit you can build there and the rental return you can get.