We have 70 rentals and have a reservation/office manager, maintenance manager, housekeeping manager, and general manager but since we are still a small business everyone has to wear multiple hats!

Best time is after the renovations so that the ARV allows the equity to be used to buy it down instead of coming out of your liquid reserves. 

Property/unit reserves and lease security deposits should be kept in escrow accounts.https://www.mass.gov/info-deta...How much experience do you have as a property manager?

Hi @James Honeycutt How much of that $300K do you plan on using for reserves for new property as well as in case the flips take longer and/or go over budget?

Most of my clients are typically purchasing these properties all cash or with low leverage with large reserves, to mitigate the increased risk.

For example, if you invested with a sponsor that withheld distributions, did your confidence in that sponsor increase because you thought they were taking the necessary precautions to protect your investment, or did your confidence in that sponsor decrease because you thought they did not plan for enough reserves?

I have been lurking around for while and I have a question I can't find the answer to.Lets say I am renting out a home for $1,000 a month and I am setting aside 25% (lumped CapEx, Maintenance,  Vacancy).At the end of the year, I have a reserve of $3,000 designated for a certain purpose.

So figure you need whatever money you give the seller to move,($1,000 to $10,000) $1500 for title and escrow, and $5,000 in reserves to cover the mortgage payment while you find a tenant. 

You will also need reserves on top of that equal to about 6 months payments.

I travel a lot for my 9-5 job, and also had my Annual Training for the Navy Reserves scheduled for this month.