I’m involved in a private LLC that owns land in which we are asked to provide additional $ for property taxes every year.  

Additionally, ensure that all necessary notices for filing an eviction have been posted and properly documented in your records.

The cons as i see it include loosing the 2 of 5 year cap gain exception, typically not an ideal rental because the emphasis at purchase was buying a good home for your family and not a rental with optimal return (my ex-home consistently has the lowest cash flow for equity in my RE portfolio), not disconnected enough from the property causes addition angst on damage and may result in over improvement.  

An emergency fund needs to be liquid, and immediately available to you in addition to being low risk and protecting principle. 

There are cheaper one’s in D/F areas but I would be careful as those can create a laundry list of additional issues.

The loan will be on the additional collateral you created.

Where I live there are many benefits to the voucher program in addition to guaranteed payments. 

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

It looks like there's an additional day of interest in their calculation which checks out just fine.

I do not see that home prices have dropped 2-3% and this is a lot of added savings in additional to a downpayment if so.