Hi Mikhail,I run my numbers pretty conservatively but here are my thoughts:- Vacancy: I like to reserve about one months worth of rent for vacancy, which would increase that numbers- Repairs/Capex: I like to budget for 7-8% for each. 

Buy with conventional, government backed mortgages.  4 easier mortgages and then the remainder are more difficult because of debt to income ratios and reserves.  

I'm working two jobs, living at home and have a savings rate of over 70%, but even still it'll be 2-3 years before I have enough saved up to cover a personal emergency fund, down payment, and reserves. 

4) What is the escrow reserve amount?

Can anyone confirm this?

We never have confirmed tenants are actually even giving us valid SSN's. 

@Peace Lily I would say ok, but if it's damaged I reserve the right to not repair it, however you may contact XYZ company and have it fixed.

When dealing with the banks they want to ensure that you have plenty of reserves sitting in the some sort of money market, whether it be 401k, savings/checking, stocks, etc.

I did not join their Elite mentorship program due to the prohibiting cost and some reservation comments on BP.

I think that it is also important you ensure that you have some significant capital reserves as well ($10k per door for SFR's).