@Britt M.You cannot lose if anything it will be good practice.

That's a good one David, keep the gas tank empty in that weed wacker over the winter so the carb doesn't get gummed up, bring it out buzzing when the time is right.I really wasn't making any request, didn't mean to imply you were puffing either but that such practices can be.

If you are fully leveraged you will have a much harder time getting your hands on that money.But, from a more practical position.

I am just starting out with a 4 family and a 3 family and am targeting to keep the following for EACH property:Operating Account = 2 x monthly mortgage taxes and insurance (MTI)Reserve account = 2 x monthly MTI, plus auto-transfer of 10% of rent collected each monthWhat do you guys think is a good best practice?

A lot of banks practiced this, telling borrowers that they won't help until they are delinquent, because otherwise it means they can still afford to pay.

Thank you for the replies.However, specifically I'd like to know what the typical practice is for wholesale deals?

Verizon has a 36 provision lease agreement and you need to understand your rights, your land, and what it is worth.In regards to Kevin Costello being contacted to extend a lease prior to lease expiration, this is standard practice.

I would be very grateful for any input and any referrals to a law practice that may be able to fully address this question.Also if the same LLC being paid for the liaison services was also participating in the lending pool..how would this affect anything ?

For all practical purposes its the same as my W2 income, so the rental loss doesn't matter as long as I'm not qualified as real estate professional or have AGI above 150k.

Not quite what I am after but I pursued it for practice all the same.