Focus on emerging markets: Invest in markets where rent control is unlikely to be implemented or where regulations are investor-friendly.

The HELOC would act as en emergency way to tap into their equity if needed - as long as they don't spend it unwisely!

You won't be incurring these every year..I think you should sit down and just run the numbers for the next 12 months, taking into consideration only what you expect to spend to operate the property, expect to spend on maintenance and a buffer for emergency repairs.

Do I only reveal that I have $40k, when in reality, I have a total of $55k but that's for downpayment, closing, renovations, immediate fixes, emergency fund, etc? 

This shift aims to avoid the high costs of renting temporary locations as the company focuses on stabilizing its business after emerging from bankruptcy in 2023.Meanwhile, Spirit Halloween is expanding aggressively, with a record 1,525 pop-up stores for the 2024 season, offering immersive experiences with animatronics and interactive displays.

I only have one exit/entrance but I have a deck on the second floor unit so I'm thinking I can have a emergency ladder that goes to that from one of the windows.

As it has been more than 48 hrs since I have been informed about mold, could I enter the property and take it over as an emergency issue ?

Hard to tell from here, but your prices seem very high, although I do understand that "emergency" service during the high heat season will cost dearly...As LL, appliances, including HVAC that you have provided in working order, you need to repair or replace as needed unless local law AND your Rental Agreement state otherwise, obvious misuse/abuse excepted.

When my mindset changed from having an emergency fund to having an opportunity fund with extra savings or credit lines, it was a breakthrough.  

Investments are best done before it's an emergency!