This is the only app I can find customized for tracking your hours and that of your cleaners, handymen etc...

Another idea that we have been exploring is using the cash value of whole life insurance funds for emergencies. 

It can be done ethically, but you need safeguards to confirm mortgage & possibly property tax payments made on-time, as well as insurance with you protected.- Also, you need a legal way to take back the deed if buyer defaults!

Who covers the tax bill when they don't pay the tax bill or the insurance? 

They don't all offer the same servicers (default management, document services, tracking of taxes and insurance, escrows, etc.), but I am with you that communication and competency are key.

If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.

The bottom line is this: Concealment is not asset protection, proper (time consuming and expensive, I know) management, and good, prudent, practices (ditto), WHICH ARE ADHERED TO, and insurance (expensive), are needed for asset protection.

Factor in carrying costs (utilities, taxes, insurance).2.

Deductions like mortgage interest, property taxes, insurance, repairs, and depreciation will help offset taxable rental income.This post does not create a CPA-Client relationship.

Address potential risks by explaining strategies like maintaining emergency reserves, purchasing proper insurance, and conducting thorough due diligence.