For quickie emergencies there are always the "18 months no interest" options at Lowes or Home Depot along with similar terms from your credit cards (those checks you can write for a 3% fee and then have 12-18 mos to repay). 

The HELOC for the eventuality that you find problems that are more expensive than you predicted, and use as an emergency fund.

However, in the last couple of years, the Multifamily DSCR Loan option has emerged and become super popular with multifamily investors.

What is your nest egg for emergencies? 

People stop paying rent, emergencies happen, people go to jail, and the list goes on and on.

They're still around the $15k.Between paying for a family emergency and some remodeling on another rental, we literally can't afford it at this point.

I understand the added risk with a 15 year fixed (always have an exit strategy) which I will have with cash reserve tucked away that will fund major repairs / emergencies if they come up.

However, in the last couple of years, the Multifamily DSCR Loan option has emerged and become super popular with multifamily investors.

Everything seems lukewarm about this.3. 2024 property: for $200k, this is stretching my budget leaving little room for an emergency budget or positive cash flow.

It's only a matter of time before a minor financial emergency pops up for them and you'll have the time, energy and expense of an eviction on your hands.