I'd feel better having those funds tucked away for emergencies.

I dont recommend putting it right by your house or tucking it away in a small back yard. 

Each account has its own target balance I want to maintain, consisting of so many months of working capital in checking and an amount of cash to handle contingencies tucked away in savings.

If you do rehab - don't be totally afraid of foundational issues - folks love to tuck tail and run but often it's not that bad.

I even factored in the most significant expense in my 203K loan, which was the roof and some tuck pointing; what was I so worried about?

I've read some insane management contracts that have tucked into their management agreement requirements that you use their affiliated blind-cleaning company, lawn service, pressure washer, etc., and none would agree to eliminate those clauses. 

Got a new roof scheduled for next month and getting tuck pointing completed now.

You might have to have them tuck-pointed, but other than that, I love all brick structures! 

.- Not tuck point needed as the brick looks great.

so it doesn't make sense to tuck that extra money away into this mortgage.