I would say go for it, that seems like a healthy reserve (without knowing what its for!)

I don't know what your friends mean by "price proper real estate," but I can attest that auctions often go fast and go high, they are very competitive these days.150k is a very healthy egg to be working with.

This kind of confident answer makes me smile :) Thank you for that!

You’ll be smiling ,patting  yourself  on the back for the extra 25$ In your pocket ...right up to the day you get that 400$ water bill in the mail 

http://www.ushealthgroup.comIf you don't want to go into the exchange and you are healthy these guys are not bad. 

I have offered my tenants a set amount each month they can deduct from the rent for costs of water to keep landscaping (trees, shrubs, small lawn etc) healthy, not just alive.  

have fun. smile...

I would eventually want to build a portfolio of properties that bring in a healthy amount of income via "passive". 

Last year, I purchased a solid duplex that's cash flowing a healthy $500 after mortgages and expenses- it's going great and now have the confidence to start to scale up. 

Is this something that can be managed by the mortgage contract and if I plan on refinancing out after a year would it even matter as long as he resumes to stay healthy.