In an event of emergency that in order to make your guests happy you might have to take care of things out of your pocket but make sure the landlord is agreed to reimburse you as long as the cost you incurred fall within a reasonable market rate. 3.

How did you find someone to oversee the set up and also be your boots on the ground as needed for emergencies once the rental is ready?

If you aren't close to the property having a solid “what if” emergency person helps.

I would review your PM agreement you signed to see all the terms and conditions you agreed to and how the money flows and if you are required to have an account with them with a min dollar amount for emergency repairs (usually $500-1000).

I definitely don't think that this is the case of an emerging city that will experience a boom in a near future, but who knows. 2. 

Personally I try to reserve my HELOC for emergency or unexpected costs during a project, so if you can try not to use all of it for the initial purchase and planned rehab.

In particular I am seeking help for the following;1) "Provide an evacuation plan (shall include Site address, floor plan//site map, escape route(s), meeting placeoutside the home, emergency number 9-1-1).

My tenant had a medical emergency several months ago and is now in a long term living facility (simply put, she can't be on her own).

@Chris CoreTo find cash-flowing properties for your first investment, focus on house hacking with an FHA loan, finding properties with rents that cover your mortgage payment, using real estate investment tools like BiggerPockets, and analyzing deals in emerging markets with strong cash flow potential.

It allowed him to keep the money he was willing to use for a down payment for emergencies, which made life as a homeowner less stressful.