I think the limit for the loan is $25k, but I would keep $5k in reserve in a money market/ high yield savings account for emergencies and repairs around the house.

I also recommend providing them with a form wherein they can provide you with updated contact information, preferred method of communication, emergency contact, etc.Second, hand the letter to them so you can see them face-to-face. 

That run cost us $12k because we had to use a lic plumber & the 'emergency shutoff' was $1,200.So we sold that property & recouped the costs but all our properties have the coverage.

If I can’t leave you a message, then how on God’s green Earth is a tenant going to reach you and God forbid it’s something emergent like a water leak.I realize there are good PM companies out there, however, obviously this was NOT one of them.

Ultimately I spent $250K on College to emerge with a Doctoral Degree in Physical Therapy. 

. :) There is an emerging secondary market in the non-qm space, it's not nearly as sweet as FNMA to the banks, but it can blunt the impact a bit, as you are finding.

Now, my question is for those of you who are experienced in deal analysis generally how do determine the amount of rent collected per unit that you set aside as a reserve for Cap Ex, emergency repairs and other unforeseen costs?

Only use for emergency on hard surfaces until flood is over.

If it is controlled by an employer, it may not be allowed unless there is an emergency which must be proven.

One piece of advice I wish I knew was to have a reserve fund or emergency fund.