Final answer...Take a look at what you are contributing, what your benchmark is making the deal worth your while and what is going to make the investor likely to invest with you again :)  

Using the last 10 years as a benchmark is plain silly..  

I’m curious what benchmark others use for reserves?

It could be a good benchmark for you. 

I'd recommend running it through your rental property calculator and bench-marking it relative to your investment alternatives (and goals).  

If you're looking for some benchmark industry averages, here's a link to a rental income calculator.

There are a ton of Realtors out there that simply open doors and list houses, but not all of them know how this side of the game works.Make sure that you have a set contract with the contractor/GC so that he is paid when certain preset benchmarks are met. 

That said, they've even collected 90% during these times when their benchmark is 95%.

A minimum of 20% equity is my benchmark, ensuring I dont find myself upsupside down on my investment.Positive Cash Flow by the Conclusion of Year One:I aim for a positive cash flow figure at the end of the first year.

For schools, I look for middle-of-the-road rankings on Zillow (4-5 and above as a benchmark).