In short, having another 10 years free of major cap-ex expenses can be a boon if you're looking at cash-flow, need time to build reserves for those cap-ex costs, etc.

Will the banks count all the money you have in your 401k towards reserves or just the amount you can borrow..

The Condo association is required to keep a certain percentage of funds in reserve.

Most lenders are going to require an equity reserve in the house, and with the banks I use it has generally been 20%.

I would say you could find a decent asset with a $50K budget, keep at least $5K in reserve for servicing fees, force placed insurance, property tax maintenance and possible foreclosure expenses should the borrower not be able or willing to resume their payment performance.

The reality that you'd want to have reserves to cover periods where the unit isn't rented, when there is turnover when you need to get it rent-ready, etc.

My .02 is that if the answer is no then you should analyze it as a pure investment property and don't forget to include PM, Capex and reserves. 

A lender frequently looks for the buyer to have 10% reserves - - That's the alias for CapEx.

This clause stipulates that if the property is transferred from the original owners/borrowers, then the lender reserves the right to call the loan due and potentially foreclose on the property if you aren't able to pay off the loan.  

At the urging of a friend, I attended a MAREIA meeting, pitched a few deals which were well received and am now actively seeking my first deal.My immediate goal is to build enough cash reserves which would allow both my husband and myself to quit our 9-5's within the next year.