We do have land line phone, mostly for emergency purposes AND Directv purpose.

Even so, seems like the new lender would have been aware of that.If you have $40K available, that sounds like a pretty good emergency fund.

You need it for emergencies.3) Look for a property you can "grow" - maybe by adding rooms or even apartments - any way to add value.4) If you will be your own property manager, learn how to screen and manage tenants.5) Use a qualified real estate lawyer who practices in the area where you buy.3)

Medical, divorce, loss of income, IRS etc.

My husband lost his job medical problems and two investment properties that wouldn't sell or rent.

How do you locate the best neighborhoods within a city to market to? Is there some sort of online resource or people that you call to determine this?

You can't invest in emerging markets, the only option is "Intl Large Cap Growth."

Then if you run into problems with your job or medical issues or some other unforeseen circumstance your REI will come to a halt.

It is for emergencies and the very real possibility you may have to evict them later.

I spent the last 6 years working for a HealthCare IT company traveling consistently around the country implementing an electronic medical record for major hospitals.