Five days into her stay we get automated notifications from VRBO that the payment had been reversed and they took the money out of our account.

I'm assuming if it's a buy and hold you're accounting for the highs and lows the RE industry goes through?

We just pay for legal and accounting services, if neeeded..

Essentially your cost of money for the down payment is the after tax cost of debt...your home equity line interest rate after taxes versus the interest you are earning on your savings...I am guessing the cost of the equity line interest is more than what you are earning in the savings account...either way, I also suggest hiring a professional property manager to start with.  

Planning on converting to real estate at least a portion of the account. 

Does your complex have any extra space to possibly expand into something that will earn you more money.Have a reserve account with a balance that will help you make repairs and turnover expenses.

Luckily I don’t need the income from the rental properties to live off of yet so what I’ve been doing is channeling all the funds after PITI and management (and charged maintenance for that month) into separate accounts for each property.

And with that said, you've also got a wise name to live up to Account Closed Be well!

Also there's a bunch of podcasts by Rod Khleif, Michael Blank, Jake&Gino that you should listen to.In my case, as a former tax accountant, I always look at the tax side of things.

They want me to upgrade to the next account level.