I am ready to get my first rental property (already got pre-approval), and I also have 2 properties that I want to offer on (I did a fair amount of research on them).

Could someone provide examples of what mild vs extreme due diligence would look like with a 4 unit house that requires a moderate amount of TLC from the landscaping to the plumbing and electrical?

Please tag me what you need money amount for how long what the arv is and the amount of rehab and the cost of the property.

Under current market conditions in that price range for most parts of the country there is a huge amount of competition for distressed properties sub $100k. 

Even from the sharply limited amount of information given here, it sounds way, way, way out a hands-off investor's comfort zone.

Unlike single family homes, if you increase the NOI on an apartment building, you have instantly increased the value of the building by a nearly exponential amount (exactly how much depends on the going cap rate for the area).

If you have another car you use for personnel you might be able to use the whole amount. 

Mass amounts of thank you for this knowledge.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

Is there a rule of thumb for setting a reserve amount?