I do know some investors that feel comfortable with having $1,500-2,500 in reserves.

For me the construction and figuring out what to develop is a comfortable area, its the financing and deal making that I am hoping to get some help with.  

You may find that you should each work independently and collaborate on some deals.Personally, I would work seperately, but stay in touch.

Since you're staying with the same job field and industry it shouldn't be a problem.

I'm just new and I am trying to stay within the limits of the law.  

Reserves stay as cash deposit and earn no income.

Especially with a large LOC, you will be tempted to go after a project with a large or even normal rehab amount...but stay disciplined.

Is the section 8 tenant staying?

As such, many have separated the electrical, but kept the original water and gas service.We've overcome this in several ways to end up with strong numbers, but they've all involved charging above-market rents.By the room leases—A 2b/1b apartment that could get $900 to a family is rented at $600/rm to students.Furnished apartments—People understand they're paying above market rent for an all-in place to stay. 

To break through this initial struggle, stay positive and rely on that network of contacts you have been building.Look for Multiple Streams of IncomeNew investors generally want to be in the rehab world.