How Much "Free Capital" Required to Launch in BHPH/LHPH???

Earlier this week, Sam Epstein posed the following question in the private BHPH Success Facebook group: "If you had to restart today how much levered free capital do you think you would need for a high likelihood of success and low likelihood of failure? Assume average expenses in an average metro area. $250k, $500k, $1 million, $2 million? For this example you could use leverage but obviously the less cash you have to start the harder and riskier, and sooner you need to start borrowing, so how much for a high probability of success?"

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