Reserves are the total payment (mortgage, insurance, taxes, and PMI if applicable).  

We were lucky to find great renters after reviewing  many applicants.

We noticed a house in our neighborhood had a yellow paper taped to the front door for a few days, and it doesn't look like anyone's living there now.

I called the builder after the first freeze and he insulated the wall and put heat tape on the main shut valve.

Obviously others have different things that are important to them and that is fine :) we can all landlord as we see fit Don't think that your experience with a high end tenant base who's renting your place due to the demand of the great school system is applicable here.

What the Condo Association does for losses in common areas where the damages are less than their applicable deductible is determined by the governing documents.  

But, I was soon to find out that without any experience in the field I was just another applicant that would need extensive training to bring up to speed. 

Definitely use a 3rd party to ensure proper application of the payments. 

It might be insulating the pipes near that trouble area, sealing drafts from the outside with caulk and spray foam, or even using heat tape to keep pipes from freezing.

Oh, and filling out the form at www.biggerpockets.com/guest.As a former Wisconsinite, I would weigh your application a little heavier...