"Your Invisible Power" by Genevieve Behrand is also great.  

You can research any topic and almost any Guru on BP.These will help you start on a right footing and achieve possible success.Applied knowledge is power.

Simply refer to the rules, which as a landlord you have the power to significantly influence, and never let them see you react emotionally.

You're right, a strong well written and presented contract with some skin left in the form of large and/or non-refundable earnest money can be a powerful persuader to your seller.  

The newer water heater is a power vent unit ($1300) that requires PVC vents to the roof/wall and a 115VAC outlet for the blower.

Lenders use gross income to calculate lending power.

You will be a employee (and likely personally shareholder as well) and can work for the company and receive a salary without violating IRS rules.This structure has been around for almost 30 years, and can be a powerful means to start or grow your own business.

Also, why should you get the power bill in your name before closing?

Having said that, we all deal with the unexpected. 

I agree with Jon to a point, the reason you have reserves is to cover unexpected expenses and having 6 months PITI means you'll generally have the payment covered, the regular rent may cover more such as a minor repair and clean ups for that vacancy.Having additional properties and holding funds for all isn't really necessary as a slush or escrow fund as the chances of having extended vacancies or expenses in all your properties at the same time is pretty slim.You should have the deductible for your hazard policy as well, if you have an insured loss you'll need.You also need to consider your ability to access other funds, not just from you fund but total assets and the ability to borrow quickly.Jon's method is pretty safe, but as you add more properties you can fine tune funds held in reserve taking into consideration your abilities to cover a disaster. :)