How do they handle maintenance complaints or emergencies from tenants?

I think there is a lot of opportunity in our city's core, and I'm hoping to contribute to its revitalisation through strategic investment and partnership with some of the small businesses that have emerged here.

Rule of thumb is you should have reserves in savings for emergencies, whether personal or business.  

Now, if keep your mortgage, and get a heloc, that is useful for emergency or quick cash.

Also let them know how they can reach you (e.g. they can email you for everything but emergencies).  

Once you're comfortable enough with the route you want to go, make sure you have enough money set aside for an emergency fund.

I have a 6 month living expenses emergency fund I built up this year I am not touching and an IRA with peanuts in it (few thousand) but beyond that I am on track to have an additional 20k by year end IF my wife doesn't get her full time (which she has an interview for this Monday) and if she does we will have around 40k saved by year end with the ability to save even more the following year.

It more requires an owner to occasionally check up on the property (drive bys and annual inspections) and be available for repairs in a timely fashion and have the network to respond to emergencies if you cant.

For the boyfriend, this is when his proxy or emergency contact person may be able to assist you. 

If cash is a little tight, but you find the perfect deal, there are always places you can find some extra money in an emergency.