Wanted to reach out to the community and make sure it wasn't a necessity to create an LLC as soon as possible because I would like to make sure I hedge my risk as much as possible in case an emergency would occur at or with a property I purchased and own outright, thanks. 

If you use up almost all of the 30 k in the down payment you may not have enough reserves in case of emergency.

In Canada when housing prices went up, new mortgages started to emerge to increase 'affordability'-ie allow people to get 30 year mortgages, so they could afford to buy a home. 

I have almost 50% equity on my current home and have opened HELOC line on it just before rates skyrocketed, just to have a back up cash for emergency purposes.

Any upcoming or emerging markets that should be on the radar?

Emerging Market OpportunitiesOut-of-state investing lets you tap into emerging markets, which often experience rapid appreciation.

This could happen in an emergency scenario so it is good to know what the numbers look like.How do you account for depreciation from the cost seg that was offset by rental income cash flow over time?

Several emerging neighborhoods present excellent opportunities, with 32204 and 32068 currently being standout, high-demand areas.Best of luck with your search!

Having financial buffers for emergencies is essential.Good luck!

Tell them you want to approve any non-emergency repairs as you might be able to handle them yourself.