I am curious how much people keep in their cash reserves as they scale up?
Right now, we own one SFH rental and our primary residence (we are not responsible for its roof, it's a townhouse) and we keep 5k in reserves for the 2 houses, emergencies, etc.
If we buy another rental it seems reasonable that we should then keep at least 8k, but probably more like 10k. After that, with rental #3 maybe 12-15k? Then I think it would max out around needing 20k for emergency maintenance for rentals (we only plan SFH/townhouses, no apartment complexes or anything like that) and our primary residence, or not?
Is this enough? What do you you guys who have several properties keep in cash?
We also have access to short term credit if needed in a pinch (a scarily large amount) and one of our jobs could cover both mortgages right now with some left over for living expenses. I am trying to think about when we're "ready" for rental #2 and balance between being risk adverse and too conservative.