It's more about the expected nature of a chronic discounter and how it applies to the whole project when they cut the listing agent to a stump and offer garbage to a buyer's agent when they want to sell the property.

Tell the owner that if they don't keep the bull on their property, you reserve the right to deal with it. 

Those paying close to retail numbers, over leveraged, investing solely on appreciation, and in tight cash flowing deals, may want to start building more reserves, or even sell some properties just in case.

But, there are other financial considerations when buying multifamily property...To qualify for a mortgage on a multifamily property, lenders often require you to have cash reserves.

Keep in mind there is not too much available this time either, so the lower demand meets also lower supply.We have a new 4 bed single family on the east side for $2,350 and had 5 showings / 2 applications this weekend, that's a fairly good outcome in this price range, which is naturally much slower than under $1,500.One of my mantras is that the house will pick the tenants - a nice house will attract nice tenants, a wired house will attract wired tenants.

I want to hold onto some of the cash for prepping/furnishing the Airbnb and for reserves (probably aro. $25k). 

Given the transitory nature of students, you are going to be turning units regularly. 

It can come naturally, or you can learn it through something more like a course. 

I find many people buying these properties are not accounting for the market standard 10% management fee, may not be accounting for the new RET amount that will hit very quickly after sale, or seemingly any reserves.  

Location and the historical nature of the building