The cash receipts of the Company shall be applied in the following order of priority: (1) To pay the debts and expenses of the Limited Liability as they become due; (2) To the Asset Manager of the Limited Liability Company his fees as described herein; then (3) The establishment of a necessary reserve of funds as determined by the Managers in their sole discretion; then (4) To the Members of the Limited Liability for their preferred return as described herein; (5) To the Members in proportion to their membership interest; and Section 4.03 Preferred Returns.

Is it because you don't have enough in an IRA to get the property, pay for repairs and have enough reserves left?

He presented the deals as those he ‘reserves for his own family.’  

You still need to come up with the money for 3.5% down and the required 3 months of reserves if you purchase a 3-4 family.

All expenses are paid from the checking account and whatever is left over will grow until I have enough for reserves and a down payment on the next property.  

Because again depending on the shape of the duplex, you will need a reserve for maintenance.

Buyer reserves the right to show property prior to settlement for the purpose of either renting it or reselling it, and Seller agrees to permit access to Buyer at any time from the date of this agreement up to the date of settlement. 

I think if you find a good company, and have cash reserves, then there is nothin to be concerned about. 

AND you must maintain adequate reserves to take care of the disasters that may happen.Most of my clients fall into the first group above.

http://www.usnews.com/news/articles/2016-11-08/will-the-next-president-impact-the-federal-reserves-interest-rate-hikes