I tell them who I am, how and where they can pay rent, how they can communicate with me (ordinary vs. emergency), and that I need to perform an initial inspection of the property within one week.

Wealth is for protection from unforseen events and emergencies.

My dilemma is this: I would ideally like to wait until I have emergency cash reserves to cover 6 months of mortgage payments for all 3 properties.

You can get over 5% on a 26 week TBill on treasury direct while you wait for opportunities to emerge as interest rates continue to correct the market.Be safe out there.

I know it's hard to cash flow today, especially in the A neighborhoods, but would like to hear what you think.ThanksI would jump into emerging pockets, buy when it’s considered a c area and sell when it comes up in grade.

Or you could purchase several properties with leverage in emerging markets. 

My dilemma is this: I would ideally like to wait until I have emergency cash reserves to cover 6 months of mortgage payments for all 3 properties.

The Emergency Rental Assistance Program has a ton of money still available and they are granting people up to the full amount of unpaid rent AND up to three months of future rent.

Then you let the tenants know how to handle emergencies and issues, if they call you or who to call.

This house currently has no renter though they are actively looking to put one in the home.House 5. rents for $725/m the loan will cost me $13,000 as a down payment and $6,000 closing costs, and should cash flow approx $275/m after mortgage payment are made.House 6. rents for $725/m the loan will cost me $14,000 as a down payment and $6,000 closing costs, and should cash flow approx $250/m after mortgage payment are made.To be able to make this down payment I have the option to:HELOC my current home which cost me about $850/m in repayments OR I can find a hard money lender who would be interested in working with me, I am currently putting together a hard money lender proposal to show a couple family members that would basically look like this: No repayment in the first 12 months, all income going into an account to allow for repairs and emergencies, after that taking the cash flow and splitting it 75/25 to the lender paying it off in approximately 13 years, sooner if we can make extra payments on it and giving the lender an 8% return on his money(about .5% less than what I was quoted for my HELOC).ORI can potentially do a deal with my brother who is also looking to get into real estate and we split the properties 3 a piece.These properties are right outside of a military base in a low income city but have done well for the family currently owning them with consistent long term renters in them.I am looking for any advice as to whether or not this is a deal worth pursuing.