Also, paying down your mortgage faster would allow you to take out a larger heloc for emergencies.

We are not obligated to make repairs if you are delinquent in Rent payments unless an emergency situation exists.

Over the last 18 months that we have leased them out, we have built up a nice size "re-investment fund" of about $20K, with another $15K in reserves for emergencies.

., but we don't want to dip into our emergency funds on this first venture.Has anyone ever utilized a personal loan, along side a HML, to get through your fin and flip project?

I contact that unit and inform them I needed emergency entrance the next day to do the repair.

This would NOT be acceptable if this is a necessary emergency egress, of course.

Everything was fixes as an emergency, dealing with frustrated tenants.

Get the house, build your emergency fund in case you run in to some issues and remember the house value dont go to 0 after you buy lol, if things get hard just sell, you might lose a few dollars but it is hardly the amount of money to ruin a family. 

As an analagous example, I people who for their personal finances have some four bank accoutns:  daily use, rainy day fund, emergency fund, savings fund. 

@Cody McVay this is the 21st century, send them a text and an email telling them what to do in case of emergency, responsibilities, and where to pay rent.