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Your assumption is right in line with that.Cash reserves: I like to keep at least 3–6 months of expenses (mortgage, taxes, insurance, utilities if you cover them).

Quote from @Sam Malone: This all depends on what your reserves are for the properties.

-----This week, we’re talkin’ Federal Reserve Rate cuts!

I did not get a big cash reserve to start, it was more for proof of concept. 

HOA will eat your cash flow and if the HOA/board of members are ignorant or its being poorly managed the Reserve account may be in trouble or under 10% of the annual budget. 

They will do a lower credit score but will require a higher down payment.They will want to see 6 months reserves.

.- We can build an interest reserve into your loan to provide additional security, so from your point of view it's sort of a performing assetLoans could be done on an asset by asset basis, or in the form of a guidance line with strict criteria that you define.We have active deal flow for the above.Please message me if you're able to help with this unique lending requirement.

If so, what are you looking at in terms of the deal as it relates to maintenance and reserve issues in Florida's condo market?

That is why in most cases a Heloc versus a "Cash out Refinance" for example can be a bad choice.You may or may not know but Heloc "Can NEVER be used as an asset or a PITI reserve which is required in 99% of investment property purchases.