A good rule of thumb is to have at least $5 to $10K in reserves per unit to cover these situations and avoid financial strain.Thank you for the reply and help!

Here are some tips to help you negotiate effectively:Know Your Numbers ColdBefore entering any negotiation, understand the financials of the deal inside and out.

Greatest financial pitfall when owning a rental property is vacancy time.

Local lenders and credit unions could face insurmountable losses to their balance sheets and customer bases as well as the downstream financial and real estate service sector.

I think new builds in such areas is a great idea, but financially it's very hard to make the numbers work since you will probably have a very hard time finding comps.

Provided I can establish a solid investment plan tailored to their financial needs/comforts such as debt ratios and income, they would be more than happy to offer me some financial control.Additionally, If I wanted to, for the sake of building my own personal wealth, I admittedly have the luxury of taking a loan from my parents.

Just make sure to look into the HOA’s financials, rules, and rental policies before buying.

By 2030, we want to have grown a portfolio of over 100 units, created a property management company that manages an additional 100-200 units, and, finally (and most importantly), we will have established a non-profit that is focused on quality, affordable housing that specializes in providing housing and resources at/on the "services cliff" alongside financial counseling and first-time home buyer education in our target area.Our target area is the Springfield, MA and Hartford, CT areas with dreams to expand to Central Massachusetts (Worcester, MA), Southern New Hampshire (Nashua, NH), and Southern Connecticut (New Haven, CT).Would love to meet up with likeminded individuals in our area!

Our underwriting focuses primarily on the property's return on investment and/or cash flow, rather than personal financial details.

That sounds like someone who has been going in the wrong direction financially for whatever reason.