I want to keep around half of that in my ETF and emergency fund, but i'm flexible.

>Tenant Procurement/Placement – could be percent of monthly rent or a flat feePictures, 3D Tours, etcAdvertising prep and determining market rentProperty advertisingAnswering inquiries (phone/text/emails/etc)Scheduling showingsShowingsApplication processingLease signings and MoveInsFollowing up on all of the above, hopefully consistently updating owners>Maintenance ChargesCommon: owner agrees in contract that PMC can perform work without owner approval up to a certain threshold (Example $500) or in an emergency.Questionable: owner doesn’t find out about charges below threshold until they get their monthly statement.Hourly – PMC bills at hourly rate depending on type of ServiceTech sentEXAMPLE: Owner billed at $65/hour for handyman workMarkup is hidden in that rate as highly unlikely PMC is paying their handyman the whole $65/hour.PMC or a subsidiary billing – PMC submits bill from their companyEXAMPLE: Owner receives a bill for licensed HVAC work on PMC form.Owner does not get the licensed mechanical contractor bill, so has no idea of PMC hidden markupTransparent – original bills from all contractors sent to owner, PMC charges a pre-approved markup for their time to handle.EXAMPLE: Owner receives a bill for licensed HVAC work on contractor’s form.Only challenge is some PMC’s get illegal kickbacks from contractors owners don’t seeThere are then many different IF -> THEN fees to cover evictions, emergencies, filing insurance claims, etc.WARNING: never assume you won’t be charged for something unless it states so in the management contract!

Yes, there are other clauses for emergency-type issues and if I am going to market it. 

Just make sure your global LTV is low enough that you can refinance something in case of emergency and 6 months of reserves per property is a MUST. 

With either one, I would still have a year of reserves in the bank (and only ever use for emergencies)I don't mind not getting my primary place for couple more years but now I am thinking I might get priced out of my area.

Hold the LOC for emergencies or really, really good deals that pop up when you don't have cash on hand to nab them.Have you ever done the math to determine what your return is?

The problem I'm having is that the banks want 25%  and that will take all my cash  and I would like to keep some cash for emergency funds.

People who normally would have left the country were concerned about reentry or medical emergencies.

New bills have added some further rules and restrictions, like making owners apply for a Transaction Tax license, registering their property as a short term rental, and also providing direct contact information in the case of emergencies or complaints. 

I'd like a HELOC as a psuedo emergency fund and/or to help with a larger DP on future properties I have the $28K in cash but it's my D.P. account for my next property.one Idea is to Pull a $80K HELOC... and toss my cash at it ( or more than likely pay off the primary, then refi the paid off home with a HELOC) Thus giving me the entire $80K as a credit line.... if i pull... $40K out for a duplex DP I could likely replenish in < 12 months (if the property doesnt need further funds)Thoughts?