@Emaria Mitchell Sounds like you need about $35k cash PLUS a healthy emergency fund, no bad debt, and preferable a deal with value add potential.

Again, everyone does these things differently so I am not sure what your preferences are.  

I would prefer to stay around 400k for my own comfort level if possible but hear what youve all said.

I personally prefer separating the two for everything when it comes to business.

Even if you do start some direct marketing, many sellers know that the market is hot and prefer to sell on-market for highest premiums. 

I prefer to make my large gains inside my ROTH IRA which is an LLC.This keeps me from paying tax on money my IRA makes.My ROTH owns several rental properties that it bought cheap and fixed up.

Hello BP'ers ... long-time NY (Saratoga area) member, but have only been a casual on-again, off-again reader.Looking for guidance on transitioning from our single-family to a duplex, triplex or quad, the multifamily as an owner-occupied investment property that will allow us to retain a NY footprint -- driven by family's center of gravity -- and have an $income component, then transition over the next couple of years South (NC, SC or FL).We would prefer to stay in our single-family residence, then move into the multi-family while simultaneously marketing/selling our home. 

I'd prefer not to accept the unemployment benefits as income because I imagine it's not steady and I have another very qualified applicant that submitted their application second.

I prefer to use just my name on a mailer envelope, so it is more likely to be opened. 

@James Wise but you are commenting with an opinion on right and wrong and what you think is acceptable or not so I assumed you had a solution on it since some home owners do own distressed properties that they prefer to sell in As Is condition which typically realtors do not want to sell due to them being lower dollar amount, and wholesalers do.