Rental Repairs

[Stephanie D.]

Hi -

I recently closed on a two unit which are ocupied.  The inspection indicated that I need several repairs including the replacement of chimney liner and cap (est. cost/labor $1,000) and gutter guards (est. cost/labor $300).  I would like to start making those major repairs asap.  However, I am concerned with using all the cash that I have netted so far ($1300).  Is there a rule of thumb for funds to be held aside on rental?  My mind keeps thinking that I am in this to make money and not to lose.  Besides if the tenants aren't complaining, then why should I rush.  I really do appreciate any kind of advice.

Thanks,