X or Y conditions can be threats to life or health like heat going out or gas leak.  

Plus you never know, income can go up and down even with RE so the more cushion the better.I also want to have about 1 year of base living expenses including health insurance in the bank before quitting my J.O.B and about 3-6 months of emergency money for the rentals to cover a really bad situation like half vacancies for several months due to the economy etc.

Tending to any emergency/water issue is high on the priority list and needs quick intervention to prevent long term/expensive issues and fit in well around the scheduled turns and regular unit maintenance (can be done anywhere from quarterly to annually and announced 1+ weeks out - checking for leaks, fire alarms, extinguishers, health/safety issues, windows, cleanliness, undocumented pets, etc).A lot of this will depend on how many techs you have, how well the tenants are trained about telling you when issues arrive, and how often you inspect the units to get ahead of the issues before they become a huge headache.Justin

Next are the health and safety hazards: rotting food in the refrigerator, as well as carbon monoxide producers such as the grills, propane heaters, and extensive use of the fire place.  

These 2 investors have a lot of money tied up with this RE guru and let's just say it doesn't seem to be what's it suppose to be, let's just leave it at that so in case he is on this forum, he won't figure out who we are.But I have a very big responsibility to guide them since they are both in poor health now and need me for the rehab.We depend on each other a lot, them for me looking property and fixing and me their investments to lauch my RE investing career.

The rates quoted below were pulled today and are charged against every $100 of payroll.Clerical/office l $0.27Landscaping  $10.06Janitorial (site clean up) $5.01Electrical $4.94Flooring $13.22Tiling $15.97Finish carpentry $13.36Roofing $55.85AS you can see, even tasks that seem low risk have a high rate of injury, primarly because health costs are so high. 

@Matthew Rutledge ,First of all, glad your father in law is in good health.

Plus health issues with hubby,  so my time has passed, but not yours!

Consider the health of your current investment and compare long term.

George 5 years ago and moved my wife here for her health.