That is a safe harbor from the IRS with a couple of caveats. 

If you found a safe way to do lease options in Texas I’m all ears.

It is a complimentary strategy to pull some of your money back out and hedge your bet.

Yes, I've seen them, **** work and they're falling off roofs, not safe.

Best bet would be disclose in your listing & disclose again in your welcome message when they book.

Ok so a diff path then my previous post.I also wanted to invest in real estate but just assume( and bet is probably true) that most of the people that find truly good investments have  either or all of the following the most "average joes" don't:1.

That will probably be your best bet, to buy a fixer and get it cleaned up and then rent it out.Best wishes and good luck with your endeavors.  

I’ve already put down a $2,000 earnest deposit and paid for the inspection and appraisal.This event is unprecedented in the area, as the area is typically low in violence and considered very safe.

Be safe out there. 

I know that the general guidance is that emergency funds aren't to be invested, but given our financial security and the fact that we already have a personal e-fund in a safe, non-volatile location, would it still be crazy/unwise to invest this 15k in an S&P500 index fund in a brokerage?