On the 4th auction if you are the high bidder, even if the reserve has not been met, they are more inclined to negotiate with you.

So it's better odds, and you should be able to get a deal or two under your belt faster and build up some cash reserves.  

Just be sure you have the cash reserves for holding costs while getting the homes fixed up and ready for the market.

Best thing you can do is have good cash reserves and a good credit score, combine that with a relationship with a small local bank and you should be okay.

I know some condos purchased under the reserved/affordable series require owneroccupant but I think all "market" purchased condos can be for any use.

Don't spend all cashflow so you can have reserves ready to go when the water heater goes, the furnace, etc.Finally, putting of routine maintenance is a big no-no.

Keep enough reserves so you dont have to sell out in order to pay your collector.

Can y'all tell me what the typical amount of cash reserves are needed to keep for random capital expenditures?

21.What are your cash reserve requirements?

I heard (last year or in 2014) that B2B had increased their reserve requirements such that you had to have (nearly) as much additional capital in your registered account as you had lent in mortgages.I'm using Canada Western Trust, but have only written a couple of small seconds thus far.If I can be of additional assistance, give a holler.