If you can afford two investment properties both vacant or not paying for ~1 year having reserve funds, I would say go ahead. 

There’s other contingencies you can use too, financing, feasibility, environmental, neighborhood review...Have your DD start the 1st business day after they provide you with all the documents, P&L sure, but also you’d want title docs, details on mechanicals like age, repair history and warranty status, insurance claim history for the last 5 years, every scrap of detail on any pending claims, zoning use confirmation from relevant govt entity, copies of all docs they have received from any govt authority related to the property for the past 5 years... there you’d be looking for code violations, notices from EPA or fire marshal, etc.  

@Chris Mason should be able to confirm that. 

Can you explain to me what your reserve requirements are?

I have my properties under management but would still like to see how they perform, how reserves build, what the ROI and CCR are, etc.In the list of tools and perks, I see property mgmt tools but I am paying my PM's for their work.

I'm assuming there is a reserve min bid, any idea what that likely would be?

@Travis Wylie That is what I was thinking, and your post has confirmed it.

Appears to be for people who intend to live in the property, but would love confirmation from someone who knows more than me. 

The excessive obligations in relation to income - the buyers agent also confirmed that no accounts or loans were taken during the period of 23rd July (pre-qual letter date) and 21st August (Denial Letter date). 

As @Kay Kay Singh said, there are a lot of factors to consider, but ultimately you're looking to confirm that there will be future demand for your investment and you're buying at a number where you can make desirable returns both today and in the future.We have specific metrics for our investors such as IRR, cash on cash, equity multiple, etc.