An emergency fund needs to be liquid, and immediately available to you in addition to being low risk and protecting principle. 

I've opened two additional LLC's with them since I last posted here.

Man, just in 3 years if you have the tenant leave every time, even without the negative cashflow, that alone can cost you an additional 20 or 30k.

You want to make this clear that additional items need to be purchased by the guests so they are aware.

It’s part of the qualification criteria, and any problematic tenant should be revealed by speaking with two or three prior landlords.

We are willing to provide additional documentation to support our request and discuss any potential steps to ensure a smooth and fair process for all parties involved.Thank you for your attention to this matter.

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

Do you have additional capital to add?

To give you an idea of how we approach it, we assume the worst-case scenario right from the start is 9-12 months of no rent, $5,000 in legal fees, and an additional $5,000 in expenses to deal with moving their stuff, putting it in storage, and dealing with health code violations or NOV's from the city during the process. 

THEY ARE NOT LIMITED TO ONE PROPERTY.So, they can 1031 to 2 or more additional properties OR 1031 into a rental property plus a DST so that all the profits are used up in the exchange.