reserves: # months rent or # months expenses or ??

[Mike R.]

curious how folks set up their reserve accounts?  do you use something like certain number of months of gross rent (i.e. 3 months gross rent) or # months of total expenses or based on expected capital expenses or something else.  i get the logic of each: gross rents because the reserve would cover the lost rent, total expenses because you have to pay those bills regardless of rent coming in or not (i think of it as the break even rent level) but what other approaches do folks use?

thank you for your thoughts