There is a lot that goes in to this... nothing to complicated but Phillip responded it depends on several variables. I can't tell you if 3k is enough b/c we dont know the value of the project as a whole; among other factors.
I can tell you that I recently refinanced someone in the Logan Sq area where their building has 3-units and their reserves where significantly more than 3k... this isn't an apples to apples comparison... of course but we'd need more information to really give you a better answer.
Since your post was a while ago - can you tell us what happend here?
Stenger Consulting Services
All loans are taking longer to complete than 3 years ago and especially FHA since it's become more popular. There is just no way to know for sure.