I think you need at least $10,000 in reserves, or bare minimum at least enough to cover a month and a half of rent, utilities, and any unforeseen maintenance issues per property.

An if they don't meet that or whatever other guidelines you put in place up front, then there should not be any issue denying applications, and maybe they don't even apply.Personally I would not make up conditions as you go.....have to treat everyone fairly.

One major caveat is the real possibility of being put out of your own home if you ever get into a domestic issue with a tenant - I know people who have ended up having to rent a hotel room while they got something worked through the court and their tenant lived in their home, because once you rent to them it becomes "their home". 

The majority of investors face these issues when hiring contractors.

The student loan payments are no issues as long as you have the DTI ratio to qualify with them. 

None of this may be true, but they won't take that chance and they won't put their clients in a situation where issues could come up.On the money side I just got a FSBO home listed at 389k under contract for 375k.

Timing of the sale of each might be an issue, it's a complicated strategy you will want to think through and plan for before you list either property. 

I like to point out issues to save you time and money. 

We must send you a letter before issuing a fine.

Looking for pros and cons of registering as a public utility for mobile home parks.