Are you talking about permanent movers, or those on vacations of some sort, or people who are temporarily to be housed due to an emergency and then intend to move back to their old stomping grounds?

We don't want to field zillions of after hours emergency calls for locked out roommates and their parents in the middle of the night, when there's nothing we can do save for drilling a lock or breaking a door (which would then need to be secured). 

You can specify blackout dates when the property is not available for rent if you wish to use it personally during certain times of the year.Legal and Regulatory Compliance: The management firm will ensure that the property complies with local laws and regulations concerning rental properties, including obtaining any necessary permits and adhering to zoning laws.Maintenance and Repairs: Property management firms often take care of routine maintenance and emergency repairs, ensuring the property is well-maintained and ready for tenants or guests.This arrangement allows you to enjoy your second home for part of the year and generate rental income when you're not using it, with minimal effort on your part.

In that regard, if you have $50k in a 401k that you can loan yourself, is this a good strategy to protect yourself in case of some unforeseen expense/emergency? 

I think a safer way to move forward is to not over leverage yourself and have X amount set aside to cover the mtg payment in the case of emergencies.

Example my biz may require about $200k liquid for bills and emergencies.

Keep an emergency fund and be optimisticLease fee?  

It's important for me to get closings, I have a good job, but I'm young and I only just finished my emergency, paying down my student loans, etc.

Have you considered out of state investing in emerging markets?

He probably has applied for emergency assistance which hes entitled to apply for.