Operating expenses are closer to 40% including professional management.  

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

I suppose you could do part of your reserve in a Savings account and part in a 6-month CD or something like that but I prefer to keep it simple.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

Have you received from the seller the rent roll and his yearly statements for operating expenses etc.

In regards to buying ONLY the coach house I have seen this done with it's own pin but it's not set up fee simple it's set up as a condo with the front buildings units also as a condo each separate pin. 

@Brandon Ribeiro Simple answer: Don't. 

The attorney and accountant are important as they can help you set up your cozy.co (notice that isn't .com...that goes to something different) as it's simple to use, handles the background checks for us, makes it simple to collect rent and is easily linked to other social media sites so we can get the word out that we have a rental available.

Seems simple enough to do online these days, but having an attorney help you on the first one makes a lot of sense.

This stuff is probably simple once you’ve done it a couple times, but asking questions really helps shortcut the research into what is normal!