Reserves are for when major issues, such as an a/c or water heater go out.

Currently both full-time employed but who knows..Does anyone have any clever strategies to a) mitigate our risk in the short term (avoid paying a mortgage with less or no rental income), b) figure out whether now is the time to get a mortgage or c) have any general advice about timing etc.?

I want to inform my tenants that they are responsible for changing their filters on the a/c, refrigerator filter, etc.

Neighborhood is a solid B and this property was the worst house (probably a C minus/D condition).

Being a newbie, I may have some numbers that are a bit off, and if so, feel free to challenge them.So I have seen people assuming Capex of 5-10% of the rent, which would equate to $85-170/mo for a 1,500 sqft 4br/2ba with no garage.When I run the numbers though, I get: $328mo, or just over19%, so I wanted a sanity check.I calculated the following (installed costs):Water heater- $1,000 per 10 years =$8.3/moDoors(8int)- $2,400 per 25 years =$8/moCabinets- $5,000 per 20 years =$20.8/moCounters (gr)- $4,000 per 25 years =$13.3/moBacksplash- $2,000 per 25 years=$6.7/moFridge- $700 per 20 years=$2.9/moOven- $500 per 20 years =$2.1/moMicrowave- $300 per 15 years = $1/moDishwasher- $400 per 15 years =$2.2/moGarbage Disp- $200 per 10 years=$1.7/moWasher- $400 per 15 years=$2.2/moDryer- $400 per 15 years=$2.2/moSiding- $12,000 per 25 years=$40/moA/C- $5,000 per 15 years=$27.8/moDoor(Fr)- $2,000 per 30 years=$5.6/moDoor(Back)- $750 per 30 years=$2.1/moRoof- $7,500 per 20 years=$31.3/moTile (500ft2)- $6,000 per 20 years=$25/moLVP(1000ft2)- $5,000 per 10 years=$41.7/moPaint (int)- $4,500 per 5 years=$75/moGutters (200ft)-$2,000 per 20 years=$8.3/moI would probably need some $ for driveway, exterior paint and landscaping as well, but overall with what I have included, it seems 2-4x more then most people even budget for.

A SMLLC will still qualify: here is the direct citation Reg 1.121(c)(3)(ii)

Question:From a numbers and practicality standpoint, am I better off to upgrade my personal residence so I can house hack, or take that same cash and put it towards an entry level B or C class rental home?

.); (B) insured under section 255 of the National Housing Act (12 U.S.C. 1715z–20); (C) guaranteed under section 184 or 184A of the Housing and Community Development 3 Act of 1992 (12 U.S.C. 1715z–13a, 1715z– 4 13b); (D) guaranteed or insured by the Department of Veterans Affairs; (E) guaranteed or insured by the Department of Agriculture; (F) made by the Department of Agriculture; or (G) purchased or securitized by the Federal Home Loan Mortgage Corporation or the Federal National Mortgage Association.

There are also new luxury apt buildings near Hudson County Park (now known as Gregg Park) and Ave C, among other places. 

No one seems to understand that the SBA is for SCHEDULE C businesses.Landlording is a is a different business.