Any advice or strategies on how much someone should have in reserves to protect themselves from major repairs or extended vacancies?

All of our guests are either big families or extended families.

@Jonathan WhiteAny financing received by the IRA must be extended as a non-recourse loan – i.e., the lender must agree to seek no other assets or monies from the IRA account in the event of default except title to the purchased property.

Kitchen originally had a small countertop so we extended the counter and added a dishwasher and microwave in the process.

Deal sourcing absolutely requires significant investment of effort, with consistent work over an extended period of time.

Due to the unit being in worse than usual shape and my son's busy summer schedule, letting him be responsible for the turn over extended the vacancy so it cost me financially (maybe 4-6 weeks extra at a rent rate of $1700/month).

It is almost impossible for these properties to make money for any extended period of time and when they stop making money, the losses can get steep very, very quickly.Imagine it like this

First off I want to thank anyone who is taking the time to read this and want to extend gratitude to those who decide to chime in. 

They should have let you know when they extended their stay and by not doing so, it makes you question what is up. 

They seem to do this a lot since their own family(I'm extended) never even helped them.So even tho I'm sure they still wont pay even with a court order I'll still do it to be a thorn in my side like they've been to be for almost 2 years.Although I'm torn as to weather or not I should inform their new landlord what they are in store for.I have that contact information(their new landlord) and will be calling them to get their new address so the court papers can be served to them.