Here are the basic steps for investing in a real estate syndication:The sponsor announces that the deal is open for funding, usually via email.You review the investment summary deck and decide to invest.You submit your soft reserve, telling the sponsor how much you’d like to invest.

Assuming a 70% LTV and applying 10% vacancy reserve, 10% capex&maintenance reserves, and adding a 10% property management fee, it does not cash flow.

In general, lease options / RTOs are reserved for pretty properties in my book.It is much easier to get a refi loan than a purchase loan. 

I'm just concerned my six months worth of reserve will be enough.

I have some friends on Fox Lake.I might suggest confirming the long-term plan for the property. 

You can more or less see this for yourself by google searching "[credit union name] IRS form 990," to confirm that these are neither lowly gov't bearcats, nor are they starving do-gooder charity worker volunteers acting purely out of the kindness of their hearts.

In our experience, the #1 mistake landlords make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

They did not even give you a chance to remediate the issue.Check your local laws to confirm this complies.

I usually bump up my replacement reserves on older properties to account for stuff that is going to break. 

How much reserve do I need in the bank?