We always recommend thinking of real estate like a stock portfolio.Most financial planners use the "3 buckets" analogy with their clients:High, medium and low risk investments, depending on a person's personal risk tolerance and age to retirement. 

So, for reserves, the same rule of thumb is used that any financial planner would tell you - save 3-6 months of your bills. 

@Will Shoemaker While calling a civil engineering firm will be necessary at some point, I would start with the City Planner.

Quote from @Cole Setzer: Hello,Im a CPA and licensed financial planner in Hickory, NC. 

Locally, try university housing boards + event planners for group bookings.

As always, consult a tax professional / financial planner. 

Department of Defense+1.Infrastructure and Planning: Local leaders and planners—including the Huntsville/Madison County Chamber and city officials—highlight Huntsville’s proactive stance, citing years of planning, infrastructure upgrades, and housing resources prepared for this moment The Guardian+8Axios+8Huntsville Business Journal+8.2.

I've been a financial planner for 18 years and I have told people so many times, "google IRS W4 Calculator". 

@Dylan Villano my colleague @Daniel Huffman is a Fee-Only planner and real estate investor in Colorado.

Turnkey rentals are fine if you want a simpler entry point—they save time but may offer slightly lower returns than a fix-and-flip or light rehab.Financial planning: BP has forums and threads on wealth advisors and RE-focused planners.