What would happen if I had an emergency and needed access to my funds?

However, an essential exception emerged in the 1990s, allowing specific rental income to be categorized as non-passive.

I am also starting formal learning for RE license exam.Wanted to request some assistance in knowing good / emerging areas for my first investment property (3/4Bed) costing 100-300k with decent possible cash flow.

If the home seems to be in GREAT shape, I'll also be willing to go higher on the DD.There was a point during the crazy sellers market we're emerging from that I wouldn't bother writing an offer with less than 50k DD.

I am trying to speak to the PMC (on email because I know it'll turn into a huge argument over the phone) because I have gathered information that one of the recent charges was for a repair that was well above the limit set in our agreement for a non emergency repair - they now (not surprisingly) claim it WAS an emergency repair.

. :-)If they "terrorize" other tenants, there are cases where an emergency eviction might be warranted, but I am not a lawyer and you should always consult one. 

If I was at work, and I couldn't break away, then I had to have someone deal with it - but honestly, in all the years I did it there were so few emergencies I could count them on one hand. 

Have a good team on the ground in the event of emergencies (HVAC, plumber, etc).

I have always invested closest to home so all the little emergency things can be handled locally our network of Contractors Plumbers,Electricians are also all local. out of state plan on at least 4 tripts in the first year if renovating Air fare X4 Hotel /Motel Rental Cars all can drag you into a negative cost cycle. unless the size of the deal makes Travel expenses irrelevent add them to your buget forecasting. 

The following actions will assist you in beginning your journey towards being a prosperous real estate investor:Set Specific GoalsEstablish a Reputable Credit History and Maintain an Emergency FundSelect an Investment StrategyMake Connections with Other InvesteesStart Little and Know Your MarketConstruct a Business PlanRemain Calm and Patient.Keep in mind that being a profitable real estate investor is a marathon, not a sprint.