Typically the condo docs will have the budget, reserves funds all listed, as well as any lawsuits that may exist against the properties.

Hello everyone,What are the collective thoughts on having a line of credit instead of actual cash reserves?

The only part that was left out of the CASH Section was you will need 6-12 months of Capital Reserves (depending on the lender) required to be of monetary equivalent of 6-12 months of Mortgage Payments and Property Taxes.

You need financial reserves to do them though.In Texas, Sandwiches are not a good idea due to Fee Simple Title.See http://www.statutes.legis.state.tx.us/Docs/PR/htm/...

You also need 3 months PITI in reserve.

Usually the term syndication is reserved for that type of project which requires a ton of legal work including offering docs, shareholder reports, accredited investors and all sorts of things. 

Wells Fargo will not offer such a loan, but the following institutions will:www.myiralender.comwww.iralending.comNon-Recourse loans typically require a minimum of 30% down and 10-15% cash on hand in reserves.  

Their voucher has no value to me, I am unable to convert it to Federal Reserve notes or their equivalent.

Landlording with no reserves is costly and stressfull.

I think in the end you needed a couple thousand in reserves, but I really believe I remember it was $500 cash in.