There is a State of Emergency in effect and anti-price gouging laws apply.

Trying to save $$ so I can prepare emergency funds in case of any major repairs etc .

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I have a pretty large emergency fund in place for those properties, but I wonder if that capital could be better employed elsewhere (potentially acquire another property).  

That would be a helpful addition to your plan as you would further reduce your cost of living.Also don’t forget from that $600 you are planning on getting in cash flow you have taxes, insurance, maintenance, capex, and vacancy to consider.With two homes, you may want to keep that extra $20k as an emergency fund rather than spending it on a third property and then be left with no emergency funds.

Unless there is an emergency situation, take a lot of photos and call your insurance agent before doing any repairs.

It would seem having a set of plans would be very important for many reasons, like emergency plumbing or electrical, etc."

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.

My piece of advice would be to research emerging neighborhoods and focus on areas with strong job growth and infrastructure development. 

For example, should we focus on acquiring one high-quality property in a strong market, or would it make more sense to spread the investment across multiple lower-cost units in emerging areas?