Hi Shane,I can understand the housing authority wanting to confirm a potential buyer's ability to demonstrate financing capacity as a predicate to them spending time with an interested buyer.

Now, the bank typically wants 6 months of reserves- will the bank except the equity I have in my personal residents as sufficient holdings for this?

Once you determine the current condition and life expectancy of all major components and appliances you can adjust the CapEx reserves requirement.What are you including in the $200 Misc?  

Will it sit in a reserve for emergency repairs or issues?

Fannie & Freddie want 50%+ owner occupancy, solid HOA reserves.

I’d say your best bet is to wholesale this one to build your reserves.

You sound pessimistic or, at the very least, reserved regarding purchases in CA.

I also think it matters how many you have, if you have one property you need more reserves than if you have 100 properties.  10K a house cited above might be about right for a person with 1-5 units but if you have 100 units setting a million bucks in reserve accounts is probably excessive, since its unlikely all 100 units will have a problem at the same time.

Smart ones have a reserve and not going overboard.

Hello BP, was just wondering if a unsecured line of credit would count as reserves in the banks eyes when applying for alone.?