Opt 1) utilizing our savings in the brokerage account and emergency fund and pay for it all up front. 

Do you have written confirmation that the sisters / mother are a good emergency contact? 

That means having procedure and protocol for every situation--or at least, every common situation. 

Basically you can't have the yard be higher than 6 inches below the window sill (otherwise it would v difficult for people to exit out of this window in case of an emergency). 

The PM should be an expert on state law, and they should have policies and procedures in place to handle these situations.

In my leases I put clearly that if a tenant flags a request as emergency and it is determined to be their fault or not an emergency they are responsible for the cost.

, takes the edge of the emergency and buys us time to get a contractor out without having to pay for emergency hour services.

How do you identify emerging markets before they become over saturated?

I also diversify into alternative real estate, like self-storage, to stay ahead of emerging trends.I’ve learned valuable lessons over the years, particularly the importance of clear communication and aligning expectations in partnerships.

You should consult a real estate attorney or tax advisor to handle the legal and procedural details.From a tax perspective, there are several implications.