After all repairs are done, I wouldn't want less than 25K in my checking account for emergencies.  

Make sure you have an emergency fund in case this happens to you. the good news is, we can lower cap ex to a much lower percentage for the next couple of years but it wiped away a lot of our savings while we were there.

Which is good for responding to emergencies such as this.

A good emergency reserve for your personal life is 3-6 months of expenses, in cash.

Yes Property Taxes City of Dxxxxxx, due Dec 1 each yearSmith County, due Jan 1 each year Residents Pay for Their own electricity, water, sewer, & trash pickup Property Owner Pays for Yard maintenance Service Providers for this Property Electricity Georgia Power, 866-702-18xx Water & Sewer City of Dxxxxxx Water, Sewer & Sanitation, 777-123-80xx Waste Pickup City of Dxxxxxx Water, Sewer & Sanitation, 777-123-80xx Trash Day(s) Wednesday Yard Maintenance Joe Smith, 222-333-44xx Plumber Emergencies: ABCD Heating Cooling & PlumbingInfrastructure: Joe Schmoe HVAC ABCD Heating Cooling & Plumbing ElectricianMike Zapps, 222-444-44xx Insurance Berkshire Hathaway Policy #00000000001 Premium: $1668, renews 03/22/2020 Agent: Jack Black, 404-111-44xx Current Residents Unit A Jack Sprat Payment Method EFT via cozy.co Rent Flows to Your Bank Name: Your LLC Name, Account # 99999999999 Lease Dates 4/1/2019 – 3/31/2020 Rent Amount $725 Unit B Ned Flanders Payment Method Money orders mailed to Your LLC Name, PO Box 123, YourTown, GA 10001 Rents are made payable to Your LLC Name Rent Flows to Money orders are marked for deposit only to Account # 0000000001, then mailed to: Capital Bank, NA PO Box 100Banktown, MD 12345 Lease Dates 4/1/2019 – 3/31/2020 Rent Amount $725 Unit CJon Snow Payment Method Money orders mailed to Your LLC Name, PO Box 123, YourTown, GA 10001 Rents are made payable to Your LLC Name Rent Flows to Money orders are marked for deposit only to Account # 0000000001, then mailed to: Capital Bank, NA PO Box 100,Banktown, MD 12345 Lease Dates 8/11/2018 – 8/31/2019 Rent Amount $1,000 Make sure you also document the "Last Updated Date" for your form, so you know when you last maintained the information.

It needs to outline key things such as 1) How to pay rent 2) Who to contact with questions 3) Who to contact for maintenance emergencies 4) What to stop doing, like auto-pay to the old owners 5) and many other details.How you introduce yourself is a matter of preference. 

I wouldn't ask for something for nothing.After doing all of those things, I'd save a 3-6 month emergency fund, or more, start saving for a down payment, then start making offers on properties.

It's all about forward movement.Where do you suggest holding emergency cash reserves?

., and offer $50 to the neighbor who has the emergency key.

For emergencies, here, no notice is required.