I think I am ready to buy another one but am curious on what others stance is on reserves.

ok Gentlemen @Rob Beland @Sean Ploskina @Jeremy Pace We have a assumable VHDA loan with a balance of 1.1 million asking 1.5 million sales price with locked interest of 5.22 % NOI of 177198 Total expenses 89262..you have a debt service of 115536..capital reserves of 7250..loan payment of 3k a month..95% vacancy 2014 year was income of 218657 total expenses 90738..

I think other things come into play like you're comfort level in buying another one, your ability to manage another, your cash flow situation, your reserves, your other income streams (if you have some) etc.My personal approach is that I look for the best deals when I'm comfortable buying something.

Get a syndication attorney to help set up the proper agreements.The foreign investor will have currency exchange rates, withholding, and entity creation to think about.Whether you want to partner with them directly or have them be a completely passive investor with no control makes a difference.Bryan Hancock would be someone on here to run your scenario by.Doing a syndicate myself makes sense because of the returns I would get but putting all that together as a commercial broker transacting a 1 million dollar deal for 30k commission is not worth my time.I am looking at putting a few of these together myself.I want the setup to be ( sponsor fee 3% going in , 20% equity slice, cash flow percentage after investors are paid, and sponsor fee / commission of 3% when it sells ).I only would take exit fee if a profit was made on the project and take cash flow only after investors are paid first and reserves were in place.

Be sure you keep some cash on hand for reserves - the underwriters at the bank are going to look for that as well.

If you have the capital reserves to handle a property loss of most magnitudes, then that is your choice.We work with a lot of properties in FL. 

I have some reserves for this time period, however I'm debating wether to use those start up funds for marketing and start wholesaling (or rehabbing if i can get fully funded, which is highly unlikely).  

If it is in your account for a month or so, as to be reflected on your account, generally you will be fine.As well, a concern with some lenders will be reserves.  

It is usually just an 1 1/2 flight for $140 bucks if I make the reservations far enough in advance.   

My point is not that these can't be managed or that this is every area my point is if you don't have the time to manage it or the money for reserves it can seem cheap but not be cheap later.