I believe prior proper planning prevents piss poor performance.

Lastly, I would recommend "E-Myth Revisited" by Michael Gerber.

Consult a local real estate attorney to make sure your rental agreement is airtight and has you properly protected. 

Was just wondering if anyone had experience or issues because they didn't have proper notice. 

The reason I want things to be done properly and lawfully is because I do not want to be known as the unsafe and careless flipper who sell garbage properties.In this journey I bought a property from a Wholesaler who provided me with a pool estimate that were $4,500 less than what the work costed.

The only thing is your content must be properly defined to make a person want to hire you.

(Don't pay for DD or O&E until you are locked in with your seller.)

@Rick Willson  I would go prepared with the following:last two years tax returns with all scheduleslast two years W2slast 2 months bank statements to show reserveslast 30 days of pay stubscurrent leases for each propertyif any rental properties were acquired this year and not listed on your schedule E yet, proof of receipt of rent or security depositmortgage statement, tax bills, proof of insurance, HOA statements for any other properties, including your primary residence There's no need to look "bigger than you are." 

Hi Bigger Pockets,I am trying to "sharpen our pencils" so to speak when it comes to proper reserve amounts for rental properties and I am having a difficult time finding concrete answers to this topic.

Does anyone have any experience with this type of issues and what do you think is a proper course of action here?