I will draw a distinction here that there is the topic of having an emergency fund for your business(each rental property is it's own microbusiness) and a separate emergency fund for your personal budget.

That's a nice spread but with an estimated budget of $75-80K (high end) you don't get much return. $275K ARV -150 purchase -80 rehab = $45K.

Be diligent with estimating extent of rehab and budgeting rehab costs.

Is it actually costing $150 out of your pocket or is that an unrealized/assumed loss due to capex and vacancy budgeting? 

Total rehab budget: $30,000Estimated Sales Price: $315,000Estimated profit after expenses and holding costs: $30,000 What made you interested in investing in this type of deal?

Odd things come into play like fire truck access for emergencies, cable and electrical right of ways, drainage and wetlands. 

Then, you can decide from there whether/if you have a good match.Just know that "big box brokers/agents" have lots more expenses than independents (licensees who may choose to go it on their own after at least 2 years in many states).As an investor, agent and A-type thinker, I like to use the concept of "Zero-based Budgeting" to build my business plan from the lowest common denominator, which is how much does it costs me to represent a buyer or seller and how much is reasonable for me to earn when I do it. 

@Juan C VelezIt is cash going out the door that you won't see so I would factor it in the cash on cash calculation.You should also have a budget of this in your proforma's going forward.You should estimate how long tenants plan to stay for.I.E. tenants on average stay 3 years so you take that 1 month of rent as an expense and divide it by 3 and factor that going forward.

Perhaps the hospital would rent it for storage of materials, trucks, etc?

He is also incredibly hard on things, like his own home and truck.