Six months worth of reserves will definitely be a positive and the bigger your nest egg, the greater your chances at getting a loan.

In terms of reserve funds, I would probably make sure that you have at least a couple of grand (ideally 5-10K) as reserve money for once you close.

Bryce....thank you so much for your feedback .....In your experience did you feel that Evolve priced your listing for the best return...Also, do I still reserve the right to rent to return vacationers AFTER our commitment to Evolve.Great to hear about your love for the area,  maybe we'll be lucky enough to meet up this summer from a quick drink or bite to eat .Steve

Those reserved could be eaten up by a major repair as well as vacancy.

If you are allow the attendant open it up, what's your plan to mitigate theft or is there a percentage that you just plan to write off as a loss due to nature of business?

Yes, naturally, financing a renovation will lower your equity, simply because the mortgage balance is higher, relative to paying cash for those same renovations. 

Although I  am calculating CapEx reserves from the beginning)3.

Does the note count as a lien against the property, or are liens typically reserved for if you default on the loan?

Most hard money lenders want 20% down and they will cover the rehab in draws. 10% down is usually reserved for borrowers with experience.

Where do you go in Los Angeles to report a suspicion of this nature?