Cash Reserves

[AJ Golden]

Hey BP, I'm fairly new and trying to determine how much you should keep in cash reserves. My wife and I have two properties, a 2008 3/2 and 1986 3/2.5, both in Ft Worth, TX. We have not done any type of major capex on either of these two properties. Both are around $115k in value and financed around 75%. We have enough money to purchase another property, but want to make sure we keep enough cash in reserves. Is there a certain percentage of our property value we should keep? Or is there some other way to know how much to hold? Thanks! AJG