Emergency only.

Also, it goes without saying that if you make a procedural error (very likely as the process is designed to trip up the unsophisticated landlord, and all tenants have the right to a pro bono attorney), then you have to start the process again from scratch. 

Any debt that can help in an emergency is a good idea.

Are you seeing any emerging trends or opportunities tied to these lifestyle improvements, such as increased demand for certain property types or neighborhoods?

Tell the tenant (assuming you smell the skunk weed) they have 30 days to get out of Dodge.BTW, if the don't open the door, use your key and enter because you feel there is a possible fire emergency inside. 

Have both a personal and REI emergency fund because life happens.   

So thats kind of the standard operating procedures in those markets and nothing really sells for full list price..

In each category, note how much you are bothered or stressed on a 1 to 5 scale, with 1 = not bothered at all and 5 = stressed out: Pain Points Stress1 to 5 Pain Points Stress1 to 5 Unit turnover Exterior maintenance Advertising for available units Deferred capital expenditures Tenant screening rules Plumbing or electrical emergencies Tenant selection / discrimination rules Mortgage payments Documenting move-in conditions Bookkeeping and bill paying Documenting ongoing conditions Taxes and insurance premiums Dealing with tenant complaints Risk of late payments or non-payments Dealing with neighbor complaints Risk of property damage or vandalism Mold, termites and rodents Premises liability Interior maintenance Evicting tenants If your completed table has mostly 1s and 2s, then congratulations—you are a happy landlord!

I would like to keep part of it for any unexpected expenses/emergencies I may find. 

Now with 29 SFR, I don’t need much in emergency $ because the rentals generate 19k/month profit.