Additionally, I have one savings account for reserves for all my properties, which I add to every month. 

I have a good FT job in education administration, but I want to retire asap, focusing on RE (so, not really retiring, but you get the idea).

This can save months of headache in MA trying to evict 

@Jason Wray I actually already work with the Federal Savings bank and am currently refinancing one of my properties with you.

It occurred to me today that I've never asked about umbrella insurance claims.I’m particularly interested in real-world examples where this type of policy came through during:Property damage (fires, storms, floods, etc.)Liability claims involving tenants or third partiesMajor unforeseen eventsIf you’ve ever had to file a claim and your umbrella policy saved your bacon, I’d love to hear:What happened?

it was an interesting process but basically, the novation allowed us to get the deal done without having to involve the banks. this was a huge motivation. that way I save on having to close twice. 

Eliminate debt, establish a budget, and save.

100% VA loan, which allowed me to put money saved towards renovations.How did you add value to the deal?

My general contractor told me to charge her a $400/month pet fee for four months –which would allow me to save up $1,600 to cover damages- and then give her 30 days notice in May when it will be warmer and faster to fill a unit.

I think it is more beneficial to save for the downpayment + 6 months reserves and closing costs.