It's all in how conservative you are in your approach to underwriting your deals.Even when a Seller says they've improved the property, the tenants are still tenants and do damage to brand new improved units. 

@Eric E.

I know that the general guidance is that emergency funds aren't to be invested, but given our financial security and the fact that we already have a personal e-fund in a safe, non-volatile location, would it still be crazy/unwise to invest this 15k in an S&P500 index fund in a brokerage? 

We have just bought a bunch of HD's brand Defiant.  

It’s a 3 bedroom home, brand new build and just shy of 1500 sq ft.

I wouldn’t come up and say I am new in the business but if someone ask me I’ll be honest, that may work for some, but not others, it who cares anyways, you won’t get everyone, you want those that will want to do business with you.I will also reiterate that even if you are brand new and some ask you, turn around to a positive, if they say “but so and so has been in the business 20 years and have done many transactions blah blah blah” you can turn it around “you know mr and mrs seller, that is a great agent with a great track record, but don’t mind my asking, they are doing so many deals a month and so and so a year, how much time do you think they would dedicate to your home?”

The SMARTEST thing I did...was follow a "who" not a brand or company or model or some "thing". 

Quote from @Greg Scott: Quote from @Derrick E.: I always play it by ear.

The first house that I bought was 17 years old, 3 br, 1.5 bath, brick ranch house with hardwood floors, Andersen windows, ceramic tile baths, gas heat and a brand new roof. 

Major brands like Ritz Carlton and Waldorf Astoria are currently developing property there, where they have traditionally developed in Miami, Fort Laud, and Palm Beach.