While there are a lot of investors out there, the vast majority of buyers are owner-occupants.

From a personal perspective, the only thing I would be concerned about is having access to cash/HELOC to cover expenses for everything should you ever have a worst case scenario type situation. ie several properties are vacant all at once, lots of costly repairs at the same time, etc.For conventional loans, you'll be required to have sufficient reserves for all properties.

A month to month lease is just that - either party can terminate with sufficient notice, and2.

You could take two comparable properties in the exact same area and one unit’s income could be vastly different than the other.

Because large 60+ unit complexes often generate sufficient cash flow for you to high professional management. 

Guessing isn't sufficient.  

At what point, are they no longer going to want to see 2-6 months reserves for every property and just going to understand that there is an account with a sufficient amount?

As you will soon find, there is no common definition of a turnkey property, and it can be very risky (and expensive) to make any assumptions.The ongoing management of the property is another area of vastly different approaches to turnkey investments.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

I approached it in case I am facing a judge I can tell the court I gave sufficient notice for the tenants to make preparations to move if they didn’t like the rent increase.