How much should I put aside for repairs, etc?

[Eliza B.]

Hello! I'm doing my research on areas and going to begin researching to put together a team, but first I wanted to ask is there a certain amount of money you would say you need to have stashed away in savings before you purchase your first rental property out of state? We have the approval to borrow the money for begin buying the property/ properties, but until we have several months of positive cash flow to set aside from the renters' payments, how much money would you recommend that we have put away in a savings account to possibly cover any unexpected costs (i.e.: plumbing issues, heater breaks, electrical problems, etc.)? $1000? $3000? $10,000? Would it be terrible to have a credit card ready to pay for those repairs, or do you really recommend we have the cash on hand instead? Or, do you recommend shopping around for a very thorough property insurance plan which would cover almost any problem in the rental, after we pay a deductible of some sort? Thank you!