If so, then 3.5% down.If not, then be prepared to put down up to 30%.

I'm obviously hoping to never have to use for more than this, but want to be prepared just in case.  

They become this fiend, this villain that could destroy you and is probably the hardest phase of all the phases.It is during the MOVING PHASE, that you must be cool, have all your wits about you and be prepared, yet still be cordial so as not to enraged the monster that seems to be lurking in your Tenant during the MOVING PHASE (as there is NO ANTIDOTE to calm the savage beast once it takes form).

Hi all,I'm interested in starting investing in real estate but I'm the DFW area, and the market is WAY too hot.In the mean time, I'm preparing for the market to come down, and foreclosures to come back.So my question is how do I approach a bank to finance my future deals?

What does your process look like for preparing for and bidding on these properties?

That being said what steps do you advise I should take to become better prepared.

Tenant Pays that let the water overflow onto the floor, You get bids for repair, may or may not be an insurance related claim, you could check, does your renter have renters insurance, maybe they could file claim with their insurance.Take photo's and your gonna have to work with tenant living in damaged unit, so be prepared to be asked for rent reduction for days of inconvenience. and clean up of their items. and this should be part of what's included in costs in my opinion. 

.- Vacancy during renovation- Closing costs, legals, accounting (bookkeeping and taxes preparation).

I feel you are only limited by your creativity.If you are interested in direct marketing I prepared a BP blog post a few weeks ago with a list of books that really helped me out with writing copy that got people to actually call me. here is the link  https://www.biggerpockets.com/blogs/5868/51959-how...I hope that helps you out.

Don't anything up front, however, you should be prepared to be able to verify that you have access to some capital to bring to the deal as most HML only fund 65-70% of ARV.