Can you explain to me what your reserve requirements are?

You will have to do it eventually.Here's where cash reserves give you courage. 

Either figuring in closing costs, or 6-12 months of PITI left in the bank.Lenders, especially commercial lenders, want to know that you have some reserves leftover in case something happens right after you close, so you can make your payment to them.So, your broker is probably making sure that you can close the deal if you put it under contract.

Also, continue to save your money so that you can make that down payment and have the reserves that you need.

Good day all,I'm looking at auction.com and see an auction that has a reserve of 123k, but the starting bid is 35k.  

Jorge Astudillo Do you have any cash reserves on top of the $15k?

$600k for 30% down payment $200k for cash reserve after close of escrowLoan amount: $1.4 millionBut my net worth is only $800k, less than the loan amount $1.4 million.

How about  accounting, legal, lease up fees, snow removal, Pest management, or CapEx reserves?  

I’m currently operating on lower reserves and I need the actual cash flow to be useful enough to contribute towards the O&M.

Our plan is to live here for a year or two, for very cheap, and use all of our extra cash to acquire rental properties (obviously setting aside reserves for each property).