Good new mayor, strong emerging areas near downtown.   

You will need both a leasing agent and a maintenance person who can handle emergencies.

Phone is only for emergencies which is generally temperature, fire or water related problems.

I understand you should have an emergency fund to cover for unexpected maintenance or not having tenants and all that but is there some kind of clause on a FHA that allows the home owner to temporarily stay in a secondary home during the reno phase or something of that sort?

Also, have an emergency fund for unexpected expenses that may arise during property ownership.

He always had some sort of emergency come up that prevented him from paying the deposit. 

You should use it as an emergency reserve as well as making home renovations.

It makes a world of difference when there is an emergency. 

Managing multiple STRs can be a 5-10 hour weekly job at minumum, and compared to my LTRs, there's more late-night emergency calls about where the toaster is. 

Is it worth it to be doing better than breaking even each month, or should we just keep our extra funds in the bank ready for emergencies?