A good rule of thumb is to have at least $5 to $10K in reserves per unit to cover these situations and avoid financial strain.Thank you for the reply and help!

Coghill they are trying to take care of several things:1) Approval to access credit reportsA video tour of my home office (required by the credit repository to show security, so access to office & computers is limited to avoid data theft)Credit checks on me and my partner (required by the credit repository to make sure you are not criminals looking to steal others' data)Copies of the deeds for every property we own (required by the credit repository to confirm you aren't just self-serving)A copy of my partner’s home lease and utility bills (required by the credit repository to prove his legal address, so they can pursue him criminally if he steals data)Business phone bills (required by the credit repository to prove an actual business)2) Approval to use banking ACH system to accept tenant payments and pay ownersBusiness phone bills (required by banking industry to prove business legitimacy)A signed letter from the bank verifying our accounts (to prove legitimate business banking accounts.

This might be typical in your market, but it’s worth confirming to avoid unexpected costs.

Leveraging equity does involve some risk, so it's important to have a sound strategy to avoid overextending yourself.

My wife and I moved down to Central Florida from Hamburg just over 5 years ago and are running our own brokerage and property management company. 

There's no problems living next to your tenants, just tell them your the manager NOT the owner to avoid guilt tripping.You have to analyze the deal 1) while you're living there 2) when you move out.

When you’re confident in your numbers, you can negotiate with clarity and avoid being swayed by emotions.Understand the Other Party’s MotivationEvery seller has a reason for selling.

Hey River,Right now I live in "Central",so Im open to all areas outside of places like camden,newark unless in the good section ect.

Unfortunately, some renters will say anything—even things that make no sense in an alternate universe—to avoid responsibility or financial consequences.

Whether you're setting up your first property or looking to optimize your current listing, this resource is designed to save you time and help you avoid common pitfalls.If you're a new host or just curious about how to set up a profitable Airbnb listing, drop your questions here!