With your exceptionally low monthly expenses, the emergency fund wouldn't need much.

I don't have any experience in REI except when we bought our primary residence in 2008.

@Tyler Wehrung there are certainly a lot of different stories attached to financing and what you are describing is no exception.  

Landlords do not "chase" tenants for payment except in the case of tenants avoiding paying.

Our experience is that, except for the tenants that keep a beautiful house, showing a house loaded up with moving boxes and scattered flotsam is worse than just waiting it out, cleaning up and showing it when it's empty.

This means that proactively doing things to retain tenants is vital.

I would normally do exactly what you said, except, I'm so cheap, I'd probably end up doing all the painting myself and paying the savings to my chiropractor after throwing my back out! 

I do virtually nothing with my broker's license currently except for deals that I am principal of.  

But that could also just be kept in the LLC's Record Book because it isn't really needed except if you get sued and you're trying to show the court that the LLC is separate from you personally. 

This would be great news, except that the junior lien holder has filed a notice to redeem and intends to pay off the mortgage amount.