The age of mechanical items, roof, appliances, structure and interior is where you need to begin consideration for the reserves for each property. 

When I have done this, the gas company will come out and install a meter bank inside or outside of the property and then the owner is responsible for paying to plumb the lines to the units and to the mechanicals on gas.

I know people do this, but I do not understand the mechanics behind this second loan.

Maintenance/repair costs are going to depend on age of the property and its mechanicals, when it was last renovated/updated, etc.

@Nick Snider A couple options here: - 10% down on second/vacation house- JV with another investor who brings in the funds while you bring the deal/operations etc- HELOC/LOCs to fund the remainder of the downpaymentAs for wording up the negotiations or contracts, talk to local investors who have dealt with the mechanics of such a transaction, whether that be subto or seller financing, since local folks can give you the best advice regarding this

If you bought a property and you estimate the roof and mechanicals need replacement in 5 years I would divide the replacement cost by 60 months and contribute that amount per month.

There is a great, supportive community of investors in Chattanooga with wide-ranging emphasis and experience.

*emphasis was put on ‘first’, because syndication could serve you as a great diversification vehicle sometime down the line, so don’t write it off completely.

These planks do not require any glue and are very easy to replace/ repair because no click and groove mechanism.... 

@Jedd BraunwarthHey Jess, asking for thought on ground up construction using a meter spread where meters are in the mechanical space of the building vs. installing the meters in each unit where the water comes in