So we installed a window unit in the bedroom so when the weather is not that hot, we shut off the central air, and use our bedroom for eating and sleeping.BTW, I'm told 220 volts is more efficient, which is why for larger units, they're mainly 220 volts.

If you do that though you can't actually take out any of the cashflow...because the problem with CapEx is that it doesn't actually cost just 8% of your rent. when it come it comes big and heavy, so you'll need to be able to build up to having that reserve account...some people like to gamble and will take it out...I personally don't recommend taking cashflows from your real estate until you're much further along with much larger reserves.

We want the properties generating cash flow from the start, therefore not interesting in gut renovation projects at this moment.

I'll probably have find something more complex as I move into larger MF properties, but for right now venmo works great for my first few properties. 

Starting off with single family houses is great, but you'll want to 1031 exchange them into larger and larger properties.  

Hey Joelle-I have three larger multifamily buildings in Dutchtown, and I live in Idaho.

Jake, we work with both very sophisticated corporate investors and new ones...primarily on the sourcing and acquisition side but also to provide repair and renovation and leasing and management. 

Working full time too, I don't really have a lot of time to spend renovating a SFR/condo/apartment (although I like working with my hands so I think I would learn a lot and enjoy doing it).

Although I am on the first floor I have done some renovations to my unit.

It does not include upfront operating reserves/renovations.