Nancy,Take a look at your States statutes as to what constitutes an emergency and entering into a tenants unit.

See NRS 118A.260  Disclosure of names and addresses of managers and owners; emergency telephone number; service of process. 1.  

I like to have some money saved up aside from down payment just in case something happens in your life (laid off, accidents, and other emergencies), so I believe that it is much more safer to have at least 20-30% down payment when purchasing a home or investment property.

It (literally) pays for you to put rules & processes in place so that you can work with them when they have a TEMPORARY financial emergency without losing moneySection 8 probably skews the rules for dealing with low income tenants because keeping the voucher is probably a motivator.

So, we had an immediate recall of their board members, an emergency vote, and we only ran enough non-developers to fill the spaces so our vote would not be split.  

@Thien LuuI include a provision requiring them to use Cozy for routine maintenance requests (for emergencies they need to call my Google Voice number).

Hell, a bunch of LL's on here don't even need the J-O-B but just work because they love it or any other personal reason.For the "emergency expenses," you should have 6 months of reserves for that. 

I’m in the middle of Emerging Markets right now and after finishing the plan is to make decision on a few markets to put the feelers into, form a team, and start making offers.

They had been in a good tier for their mortgage at the beginning of the process, and were in B paper, with a high interest rate.Prepare your financial situation so that you have some extra money set aside for emergencies.  

A pattern is starting to emerge.