I have a flat-roof, single-family home in Camden, NJ that sprung a pretty substantial leak in the roof last night. Called three roofers already and no callbacks. Any referrals out there?

In Northern NJ, i could try to find a small multi in the $2m range at a mid 5 cap, but it seems very competitive and is much less of an emergeing market.

Id say your best bet in determining how much you need for reserves for emergency repairs would start with a good home inspection.

What is the max limit your PM can spend without your permission (non-life emergency)? 

I personally would not invest in an emerging market if there were no value add component to the deal.  

Coordinate all non-emergency repairs with my Project Management Company and our assigned handymen for execution

If you don't have enough money in your emergency fund, how about taking out a home equity loan on your own home?

This area is emerging and we are purchasing at just the right time.

Here is a SWOT analysis I did...This is not really a hard tangible asset, however, I am intrigued by the Emerging asset class.

I bought my 7 plex in 88 days and then. 2 other buildings fot a total of 26 doors in last 12 months I would also by his books Muti famaly millions and emerging markets.Also check out free utube videos