Further, we need to account for a $10k “reserve” for what will be repairs / maintenance as the property ages.  

Yes, it may need repairs, but I would have a $20k+ cushion for repairs in reserves.

They will confirm to you that the number has been steadily increasing year after year (Covid or recession effects aside).

There are several benefits of having cash in the bank/liquid reserves versus an open end mortgage (a.k.a) credit card.

I've managed this home for 15 years and it has no signs of movement, as confirmed by the engineer, but the sellers accepted the offer because the home is fully paid for and they just want to walk away.

If it’s not used, I treat it as reserve funds.  

exactly Chris Clothier made a good point on another thread where his opinion is any cash flow first should go into reserves once reserves is in a good spot the remaining cash flow should go to principal paydown.. 

The first time we came here was to confirm we wanted it,  post inspection.

I should net a good amount from a house I have for sale and I don’t really want to tap into my reserves right now.

Having cash reserves gave me the confidence to move quickly on a great deal without losing sleep over unexpected expenses.