You’re not using a PM, AND you’re assuming you can charge a service animal a deposit and pet rent?

Then the rest of the time, the net income goes 50% reserves, 50% towards 2nd rental property.

This is a FREE service provided by the bank, and we have used this account for about 15 years or so. 

Brandon,Check out Indiana & Ohio for states that you can buy 2-3 for that amount of liquid reserves. 

Budget these carefully into your overall project plan to avoid surprises.Rehab Budget: Ensure that bids are received from multiple contractors and that adequate reserves are made for cost overruns.ARV: Be conservative on your ARV since the appraisal concerns one person’s opinion.

I have done over 30k reservations and only had 1 instance of a guest causing above $10k in damage, so not sure how worth it is to pay for additional coverages. 

You want an investment that pays for itself, including mortgage, taxes, insurance, maintenance, and even some money set aside for a reserve to cover vacancies and capital expenditures.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

For reserves, some lenders want 6+ months. 

We work with an agent who specializes in leases and let her know of the properties we have available for MTR and she brings in a few reservations every year.