How much Cash on hand should I have to start buy and hold

[Clay Couvillon]

I am looking to start investing with a partner and was curious the thoughts of how much Cash on hand is a comfortable start and have when looking to buy and hold property? Property we are targeting will be about 1,700-2,300 Square ft, ARV about $200,000. Also- How long does it normally take to refinance on a house, if I were to use hard/private money to purchase and rehab??

[Ryan Howell]

@Clay Couvillon - 3 months is a good number.  I like to also know I have an emergency option if needed (line of credit, 401k loan, etc) if something major were to happen as well.