If you have a super high net worth or income, perhaps your reserves could be lower.

I list it in airbnb and Furnished Finders, if they reserve from Airbnb all the instructions are given to them through Airbnb.

A Heloc can "Never" be used as a "liquid" or PITI reserve which is required to buy investment properties.

If mixed in with your deposits and reserve funds, you may accidentally spend money you shouldn't have.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

They assess when the HOA does not have the reserves to pay for it and then owners all share the cost.

Lender 1 doesn't require reserves. 

But they know they need adequate reserves to sustain them if/when there is a lawsuit or eviction to cover lost rent, repairs, etc.

If they don’t, they could be forced to rely on reserve funds or even increase dues to cover the shortfall until the homes are repaired or rebuilt.

You are handling too much risk with not enough reserves.