And I plan on keeping approximately $600/mo in reserves for capex and maintenance.

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

However, then I'd have no cash reserves for disasters.  

Best wishes Upto $500,000 size wise and I have about $30,000 to bring to the table or use for reserves.

With the FEDS rate increases, the everyday consumer will need to slow down spending and a lot of STR owners that don't have reserves or unique property at a unique location for income, will need to find different ways to make money with the property. 

I enjoy working with people but have learned I want to reserve the right to be more selective.  

Problem is you either have to be very right in your predictions, or have lots of cash in reserve, because otherwise the “alligator’ may eat you alive! 

n These states will not allow for the program District of Columbia, Maine, Maryland, Nevada, Pennsylvania, Washington, West Virginia.At at 660 fico its 35% down, 680 fico its 30% down, 700 fico is 25% down, and 740+ its 20% down no income, min 12-24months of reserves required.20 maximum financed properties allowed and only 1 month of asset seasoning so you dont need 2-3 months of bank statements just FYI.Rates are in the 9’s and interest only is available for 25% down+, ARM’s and Fixed available. 

If you have a 100 cash flowing units you won't have to have a reserve.

You'll need enough to cover down payment, closing costs and 6 months payment reserves.