This gap would be wide enough for an emergency exit so that fire and rescue support can climb through a window with supplies.Without those two conditions the room becomes an extra room, but not a bedroom.

I have an emergency fund to account for at least 6 months of not getting rent, in my eyes that's just the cost of doing business in NY.

Yes, my intent is to have lease amended stating that in case of emergency they are responsible for all damages caused by fish tank.

Also, keeping more cash liquid allows you to maintain flexibility for emergencies, other investments and a larger rainy day fund.

It’s kind of like my emergency fund money except there’s never an emergency over $100.

You need money for marketing, title, escrow, taxes, insurance, paying the missed mortgage payments if the seller is behind, usually some money to the seller, for making the monthly payments, monthly utilities, usually some repairs or updates and an emergency fund in case things go wrong.

In the ideal case, there be a "new California" emerging somewhere in the next 10 years.

We do have a high-end local property management company that is available 24/7 in case of emergency.

Someone who can occasional come to check the property and be an emergency contact in case of neighbours complains (East Scottsdale)?

New Rules:The code requires vacation rental owners to adhere to a list of regulations, including:Non-residential uses of a short-term rental are prohibited.An emergency contact must respond to requests from public safety officials within one hour.The owner must have liability insurance.Owners must conduct background checks within 24 hrs of a stay to insure the person booking the rental is not a registered sex offender.Owners must notify inform adjacent single-family homeowners or units on the same building floor in a multi-family setting that they are operating a short-term rental within 30 days after receiving a license.Rentals must include smoke detectors and an exit map.Short-term owners/operators must not leave trash/garbage in public view unless properly in collection containers, and must ensure that trash/recycling collection containers are properly placed and removed per collection schedules.The rental must be cleaned after each stay.Pest control must be conducted at least bi-monthly.Four-foot barriers must be up around pools and hot tubs with gate.