The condo association manager should have a emergency maintenance phone number.

Here in Kansas City the waiting list to get a Section 8 voucher / Public Housing unit is 3 years, it’s definitely not an overnight process, while they do grant emergency vouchers under certain provisions, ex: displacements, death, etc, another good place to market properties to find Section 8 tenants is www.socialserve.com , I usually take flyers downtown to the Housing Authority (Section 8 office) and that actually has been most effective.

., more than a couple hours drive from me, do I want the ability for a manager to make a deposit in an emergency if a contractor has to come fix something and has to be paid RIGHT NOW - or - do I just send him a wire from wherever I am and tell him (the contractor) to get to work?

We had to fly to check on our properties for 3 years when my husband was transferred out to the west coast, and it adds a lot of costs even when there are no emergencies so you can plan cheap flights, rental cars and lodging.

My perference is to go with a lender who will require the least amount of my own money in the deal (even if that means higher points/rates) although I have the cash reserves (I would like to keep the reserves for qualifiing and emergency purposes).

Good luck as you start investing and don't be shy about looking at emerging markets and areas with high Rent rates.

A couple of the many examples are: - When the house was broken into we called the emergency answering service to ask if the PM was the one who had entered the house before we called the police to file a report.

My rental house caught fire and I had a reserve of 6 months payments built up for emergencies (didn't know about the 50% rule at the time).

I was at Costco today and saw that they sell tubs of emergency food.

You will see a pattern emerge about rents.Don't over price the property.