., esp. at risk of a loss, in the expectation of making a profit through market fluctuations. 

How the… What the… Holy… I'm at a loss for words.  

This almost eliminates your losses.

If someone needs to break a lease for a VALID reason (a job loss where they truly no longer can afford the rent and the landlord sees the handwriting on the wall in terms of an eviction for such down the road for example) this may make sense. 

They tend to be at a loss for words if you deliver it calmly but firmly face to face and you get the gratification.  

The standard mandates an improvement in the stand-by losses / energy efficiency factor of the tanks.  

The seller wants to buy the home back down the road, so the tenant situation is fairly ideal as long as his income doesn't tank again (divorce and job loss are the initial hardship reasons).I'd also like to incorporate into my financing agreement something that states that non-payment of rent by the seller would result in non-payment of the mortgage, mitigating my risk in the mortgage. 

At a loss?

While there have been pressures in the energy sector, other parts of the Denver economy are doing well enough to offset those losses.

I agree with Jon to a point, the reason you have reserves is to cover unexpected expenses and having 6 months PITI means you'll generally have the payment covered, the regular rent may cover more such as a minor repair and clean ups for that vacancy.Having additional properties and holding funds for all isn't really necessary as a slush or escrow fund as the chances of having extended vacancies or expenses in all your properties at the same time is pretty slim.You should have the deductible for your hazard policy as well, if you have an insured loss you'll need.You also need to consider your ability to access other funds, not just from you fund but total assets and the ability to borrow quickly.Jon's method is pretty safe, but as you add more properties you can fine tune funds held in reserve taking into consideration your abilities to cover a disaster. :)