Basically, the further you get away from the city the more potential for cashflow, but you're also dealing with a different tenant base that may be tougher to manage.

As you said, this allows you to track LLCs (locations) and properties (classes and/or customers).

I am not sure where you are located, but I'd encourage you to call around to PM's & you may find one willing to help you.

What makes you an expert that the unit is in a great location & condition and the market is hot, relative to the property manager?

I know that the general guidance is that emergency funds aren't to be invested, but given our financial security and the fact that we already have a personal e-fund in a safe, non-volatile location, would it still be crazy/unwise to invest this 15k in an S&P500 index fund in a brokerage? 

@Jesse Strengunfortunately I’m not familiar with property managers in that location what I would suggest is I would look up NARPM and start with them..Below are some questions I would think would be a good starting point for you to see who really treats their company like a business or a hobby.My business partner is a regional VP for NARPM and I am happy to help if you need anything please reach outQuestions to Ask prospective management companies* What are your average days on market for vacant homes?

I’m in the process of managing 18 units and have a full-time job.

Try interviewing at least three managers.1.

Perhaps in return they collect an acquisition fee,  collect a construction management fee & share in a portion of the upside.

Try interviewing at least three managers.1.