It’s good to have some savings for emergencies, and you should look into different chances to grow your money.

Handling Maintenance requests and emergencies, Handling tenant disputes, Ensuring the tenants are properly insured (if you require them to), Marketing the property, Screening applicants, Handling the security deposit return, and a whole lot more. 

I've also learned not to respond to tenant's calls and texts immediately--especially if it's in the evening--unless it's a true emergency.

Alternatively, if something were to arise in our life (emergency or otherwise) while this money was tied up in an investment, we're left with few good options. 2) Time is not something I have much of.

Also, as another member pointed out, always put a maintenance spending limit per month per property in writing Anything above that should require owner approval before proceeding, unless it is an emergency type of repair such as repairing a burst pipe indoors or removing a fallen tree limb from an upstairs window. 

100% Seller Financed deal with a flexible balloon option if the seller were to need the funds in case of emergency.

Multiple studies show that these families typically have no ability to cover a $400 emergency.

This is DR Horton SFH, and is a newly built single story 4 bed, 2 bath that is surrounded by expensive MI homes. 3) Move into the townhome. 4) Use my $130,000 HELOC as an emergency if rent defaults do happen and save for a year until I reach my emergency fund goal of $41,000? 

During this whole time I mucked around in tiny crawl spaces with mouse crap and snakes, cleaned sewage off of myself more than once, made at least two emergency room visits (one for drilling a hole straight through my hand installing cabinet knobs), sweated my *** off in attics in the summer.

The client needs to be attentive, and meet the tax pro half-way on availability and willingness to communicate.Also, there are no accounting emergencies.