They should have a reserve fund that is growing every month - or has just been reduced due to a big repair, and is now being replenished.

Just to add one more winkle in this situation, I actually closed on an out of statement investment property this month and would like to use the cash-out refi to replenish my cash reserves.  

I know this fact and can budget accordingly so that I have funds on the first to pay my mortgage, and wait till the 15th to replenish those funds.  

When we do a big bundle we immediatley replenish our inventory.We are always looking to help new investors with raising capital and reducing risk.Many people want to become investors but there are so many risks involved and if they make a mistake they end up losing money and never try again.If a new investor does not need to: find the property, fix the property and rent the property we have virtually eliminated all risk for them.Most new investors buy a property "hoping" they did the numbers right.But when they invest in a property that's already profitable they are hooked and buy more.What they like the most is how we manage the properties for them, not only does this make it a hands-free investment but we also have a monetary interest in making sure the property always has a tennant.So the numbers you are looking at are not a fluke, almost all of our properties look the same on paper.

Some non-QM lenders follow some Fannie/Freddie guidelines but that's up to their discretion as they sell their loans to a different set of investors to replenish cash for new loans. 

As maintenance reserve depletes, hold back profits to replenish.  

Also not to mention they know the drill, I don't have to explain much at all and off we go.The problem I'm running into is when I run out of money it's difficult to sell the loan to replenish the money supply.  

i've got $11k in savings (need to replenish due to just bought a OO home w/ 20% down), $30k roth IRA, $5k traditional IRA, $401k 215k, $70k equity in my company. i'm 41 years old. 2 rentals - 1 equity of $21k; other one negative (-) $53k. maybe i should just concentrate right now on getting savings up?

Connor, I figure CAPEX but i don't. what i do is take the net income i have and leave it all in the account, usually until you have at least a steady 10K in there. for your size house, that should be enough to handle any emergency, furnace or new roof, even if you decide to redo the bathroom. then you just replenish it if you do use it. but after reaching that 10k then the rest of the money is for you to do what you want. if you want to keep more in there, that's up to you, but then you no longer have to put away for CAPEX, meaning that 250 goes to your pocket and you can figure that as income, now your return should be better. don't be afraid to look at numbers a different way.

Essentially, I write a check for $25k, and it takes me a long time to replenish that money.