Is there a number you like to set aside as cash reserves for cap ex and repairs?

My plan is to save a year's worth of reserve fund from property, then the rest would be used to purchase other properties.

I tend to just save that portion now, to help increase my cash reserves to cover MX/CAPEX, and help accumulate down payment money for future purchases.

And, providing you do not need the cash today, I'd sock away every penny of the gross profit into a reserve account. 

The seller called the Escrow Officer and confirmed that we help out a lot of other sellers in similar situation and that we can infact close when the seller is ready. 

The ones I’ve looked at have no rental cap and would rent for $100-$200 over that which leaves no room for reserves or special assessments. 

However, if I do this, all of my reserves will be depleted, meaning no funds for "what if costs".

Civic Source litature online is not accurate for community property state laws in New Orleans; they say I can confirm the tax title but no lawyer in New Orleans can deny the community property owners their right to the property!

You need money for repairs , improvements/ cap ex also for vacancy reserves .

I know a lot of investors who love this market and make money, but they have a massive hands on management team, and large contractor crew of employees, and its still difficult with massive capital reserves.