@ karenbarber I have looked into the turnkey investing side of property extensively in Australia and its not really me.

Because I'm going in owner occupied my cash flow would be minimum $400 (this is before any due diligence and whatever cap ex that may turn up-but I'd renegotiate purchase price in that instance).

They are used extensively over here in Australia and are always a good insight into the property and the surrounding market.

I had a client who almost lost her life changing a smoke detector battery, it was going off in the middle of the night and was on an 18' tall ceiling (why it had to be there I know not), she got an extension ladder out to change it, unfortunately the bamboo flooring allowed the ladder to slip and she slammed face down on the floor, a most awful accident...teeth, jaw...etc....it was really bad. 

My question is, assuming each property is in good overall condition and solid, no major capex expenses are on the horizon like a new roof for instance, how much should I be keeping in liquid cash for large unexpected repairs to these properties?

Having a real estate license is a benefit in some instances, but not necessary.

The following is copied from disabilitylawco.org.First, although the ADA and the Department of Justice’s (DOJ) implementing regulations have limited a “service animal” to a specially trained dog (or in some instances a miniature horse), those limitations do not apply to the Fair Housing Act (FHA) or Section 504 of the Rehabilitation Act of 1973 – the federal laws that apply to housing.It means that people with disabilities may request a reasonable accommodation to allow an emotional support animal to live with them even if their housing has restrictions or prohibitions on pets.The issue then becomes whether the person with a disability needs the animal in order to have an equal opportunity to use and enjoy the housing or housing program.

Usually it would need extensive rehab and/or be in bad parts of town.

I am Andrea, from the PA area I am a Mulit-SIte Property Manager, I have been working in the field for approximately 10 yearsI am planning to purchase my first rental property this year, for now I plan to buy and holdI have extensive experience with contractors and am hoping that among other things will help me along the way Not afraid to rehab, I actually prefer it - I am a hands on type of gal I have been lurking around BP for about a year and figured it was time to introduce myselfHappy New Year.......Make It A Great One!!

@Jamie Wooley, your main issue might be that the price you Offer is likely to be LOWER than they rejected in the first instance (because you are after all trying to make a living).