These people usually give me money, because it will generate more than their checking, savings, or CD accounts. places they wouldn't normally touch their funds anyways. however in the case that I had a bunch of cash lying around and they suddently had an emergency where they needed it all back asap, I might negotiate to pay off the rest with no interest, but probably wouldn't happen.

What's the best way of handling vacations, keeping potential tenant/property emergencies in mind? 

I was an Emergency medical professional for 26 years.  

Talk to other investors around here and the shining star companies will emerge.

., you may be able to estimate based on square footage, but for most place where I've rehabbed, it's taken 10-15 rehabs before I start to see the price patterns emerging.

A 10k profit if you flipped wouldn't be bad, but are you accounting for commission costs in the sale or any emergency repairs that come up?

I would think that would be a safety issue in case of fire or other emergency.

I would lije to have a "just incase account with 2000 aside for emergency) The cost of living up here is very cheap (averages $600-700 for small single family homes in nice condition) This apartment will and has in the past rent out for - 1st floor, 3 bedroom - $5002nd floor, 2 bedroom - $4003rd story, 1 bedroom - $300Again, just thoughts, might be raised and adjusted depending on the funds available to fix up the place.

Developing a safety net/emergency fund is a good idea for anyone, but especially if you have kids. 

I have an emergency fund built up that i do not want to touch because I am very conservative (my outlaw nickname is like calling a big guy tiny) and like a safety cushion.