That can be helpful as a sort of emergency fund.  

While the procedure will be the same for my Zelle payers, the limited locations of the community bank will be less convenient for tenants who pay with money orders.

Remember, it's a marathon, not a sprint, and keep a beefy emergency fund!

I currently am in debt by almost $55k, almost $27k in student loan, $11k in credit card, and $18k in a trailer that I had to buy for an emergency (dad’s place he was renting caught fire).

Do you have policies and procedures in place to nip problems in the bud? 

. - Management and resources..operate it like a hospitality business with very clear communication with guests and reliable crews both for cleaning and emergencies. - Consider guest amenities, house rules..hot tub..pet friendly etc- TLC.

If you have any specific questions about this procedure, you can message me.

I want to use the rent to help me build up a larger emergency fund, to the tune of $20k more than I have right now.

I recommend you read some books about how to manage properties well, use a strong contract, know that contract inside/out, know your state law inside/out, build policies and procedures to catch and stop problems quickly, know how to screen and select good applicants, etc.An ounce of prevention is worth a pound of cure.

Likely you want to keep that for emergencies.