@Lee Ripma Regarding my loan, I have asked Envision and Navy Federal about conventional loans for multi family homes at 5% down, but both consider would not consider a multi family home unless I had the 20% to put down or used FHA.

I'm considering the timing and long term strategy...Though I'm ready to act now, since I have limited funds I wonder whether it is best to wait until I can invest while still having reserves left over to make other deals.

The 50% rule is a great rule to follow to initially analyze a deal, as Jeff stated many listing agents either underestimate expenses or leave out important expenses such as CapEx reserves and management. 

At the Federal level, Section 4024 of the CARES Act prohibits "legal action to recover possession of the covered dwelling from the tenant for nonpayment of rent or other fees or charges" or the charging of "fees, penalties, or other charges to the tenant related to such nonpayment of rent" on covered properties (which is essentially any property tied in any way to the Federal government: i.e. a mortgage backed by FHA, VA, or sold on the secondary market to Fannie/Freddie, receiving Section 8, etc etc). 

I just closed on a HELOC mid-April on my rental - Pentagon Federal Credit Union (PenFed). 

Have 7-12k reserve budget for repairs/updates at the moment. 

Keep as much cash as you can for reserves, & rehab.

Want to act as though I am a tenant as well and setup a 3 unit structor.Goal is to keep CPA workload light and maximize my profits while limiting costs.Was thinking - 1 Business Checking account (Property): tenants Zelle rent to and all bills are paid out of, reserves (Cap Ex, Repairs, Vacancy) kept.- 1 High Yield Savings (Business): Majority of CoC return deposited for funding future business acquisitions (earn some interest while building funds). - 1 High Yield Savings: for deposits (pay tenants required interest and transfer rest to Business Savings account.- Personal Checking: Drawing funds, receiving refunds for business purchases, add funds to business account if needed.I made a terrible drawing to help as a visual aid.

Keep some cash reserves if possible, or if need be build them up.

SFR Or townhome NO HOA.My Budget: Anything below 225,000Loans I will be using: -Navy Federal Credit Union: Home buyers Choice.Or-5% Conventional loan.