Not sure if this is the right forum section or not but since I'm a total newbie I thought it belonged here. 

I understand I’ll have to hire a property Manager, I just don’t understand how security funds are handled Incase of emergency and immediate attention in the scenario where I may or may not be able to reach right away .

It would have been much easier to handle with a single name on the lease.

Our software handles those calcs for us.

We simply do too much business for me to handle myself, so we had to hire additional agents.

I've handled this situation a few times, but I'm looking to up my game.  

While you are getting things sorted out with your tenant, which mtg term is easier to handle? 

If it's an MLS listing, it will be handled through the agent.I think the best way is through a multi-pronged approach. 

I’m curious as to how other hosts would handle this guest?

Inquire about home many they have, ask how they do maintenance, fees, hourly rates, how they handle late fees, have your attorney read their msa (master service agreement) and understand the more bells and whistles they have to pay for, the smaller your returns.