Should I focus on just securing funds for the down payment and closing costs or should I be concerned about creating some sort of reserves for said rental property (to account for any vacancies and expenses)I assume I need to make sure that in the event I cannot rent out the property we are able to cover the expenses relating to this house in additional to our own personal mortgages but I’m not too worried about this (please let me know if I should be worried)Outside of my mortgage and some credit card debt which will be paid off by the end of this month I do not have any other debt.Are there other factors that I should be considering?

There are quite a few considerations you should take into account investing in Vegas. 

Plan conservatively and worst case, you have extra cash in the savings account at the end of each year that you can redeploy into your next deal.

Account Closed this is always an important part of due diligence on small multi family properties, and in my experience there is no perfect method.

Originally posted by Account Closed:Originally posted by @Leo Jurado:Hope everyone's having a blessed day!

But rather than a third party grabbing the house at a discount, the borrower can, and must obtain the funds and show they are on the borrowers account, and then the mortgage is simply settled. 

Account Closed  I'm primarily a Columbus and surrounding area investor doing mostly fix and flips. 

My accountant is good if you want to PM me

I'm looking to be a private money lender with the funds I move into these accounts.

B-class properties are the safest place to be for cash flow without totally sacrificing appreciation potential and owner-occupant re-sale options.Lastly, if this $140k accounts for all his disposable assets, I would encourage him to not spend his last penny.