I would not worry about the tenants finding out you're the owner- even if something breaks or fails like a "no heat" text at 1am, yes that is scary to receive but that the reality is a lot of non-emergency issues can be resolved in the morning.

Some of that information may emerge anyway when the seller checks your credit history and other background data, including your employment, assets, financial claims, and references.But make sure, too, that you point out any restrictions on your ability to borrow that may not surface during the seller's due diligence.

Having equity in the deals I buy is my exit strategy for emergencies.

Then you can evaluate what your "emergency fund" would need to be for that, should a system go down.  

4 million in stocks. 2 million as a hard money lender. 2 million for emergencies and 2 million for hookers and blow.

Emergencies might happen, they might cut you a break, but you would never think "I'll just pop into the grocery store and get there 15 minutes late" because that 15 minutes would've cost 1meellion dollars.So I approached my lease the same way.  

Quote from @Dan Grove: It depends on your financial situation, as described above.It is good practice to hold at least enough for one major event, like a three-month vacancy or needing to replace the roof or furnace.When I started, I kept about $15,000 in a bank account for emergencies.

That is the kind of house flipping that not only provides excellent living spaces for families and individuals, but also helps to continue to strengthen the emerging housing recovery. 

Did several applications of round up and pre emergent before laying the rock down.

I have considered taking advantage of this, however I'm having a little bit of an internal battle with myself based on the following:1) If I cash out hours now, I will be able to deploy it to investments/emergency fund. 2) Bear with this next one here...