What do the laws say when there is an extenuating emergency such as this? 

Purchasing under this scenario, I would have 15000 as an emergency fund left in the bank.Alternatively I was considering spending that emergency fund on the downpayment and utilizing my line of credit to get the downpayment up to 20%.

I don’t save anything for retirement or emergency funds - just everything straight into dividend index funds for the past 7 years, so I’m really committed to retiring early.

We did our best to communicate with the builder (I contacted customer care, site manager, new home consultant), but they don't provide emergency repair given the weather and it was Friday night.

@Sam P. while this might be legit, it also is probably not an emergency for you.

I  want to get their Drivers license, SS, Employer, emergency contacts, etc (and most of the info you get when a tenant applies to a renta)lUnfortunately this is in LA City under RSO rent control, so the tenants might not even have to provide this.  

The fastest way to increase your networth would be to use leverage, and keep 10% or 20% cash for emergency incase a tenant leaves or the economy collapse. $1M in the midwest can generate up to $10,000 cash flow a month!! 

My personal preference is to buckle down and pay off the student loan debt ASAP, then use the money that went towards the student debt to save for an emergency fund and down payment so you start investing in real estate.

What are your reserves or available funds for emergencies, etc.? 

This lists all the requirements for emergency escape openings.