Profit First allows be to manage money without having to do all the daily math when money is lumped into one account.

I save money when no one is there, but the guest can control them. 

You'll need a lot less money. 

I you know how to swing a hammer or turn a wrench, you can save a ton of money on the maintenance side of things. 

Quote from @Bruce Schussler: A lot of Podcasts and Youtuber's say to cash-out refinance to keep rents balanced with payment; (PITI) then use those funds strategically to re-invest either in more real estate or just put into a high interest bearing account or money market account...Here's some of my thoughts and comparisons;Cash-out refinance with new loan so rents balance with payment:- The cash-out refinance is 100% tax free- The funds can be put into a money-market account off-setting a portion of the interest charge of loan- The loan balance gets eventually destroyed by inflation- The liquid cash eventually gets destroyed by inflation - The interest on the new loan can be deducted from the rent income- The refinance costs are 3-4% of the total- There is less equity in the property and LLC that can be attached in case of a lawsuit- The break-even on cash-out refinance with current interest costs on the new loan is around 12 years Vs.Paid-off property with positive cash flow:- The positive rent income is 100% taxable minus only depreciation and property tax- There is more equity in the property and LLC that can be attached with a lawsuit- The break even is not until after 12 years at today's interest rates- There is a rate risk in today's inflationary environment where interest rates on bonds keep rising*It appears to me that the cash-out refi is in the best interest for a property investor; (Dave Ramsey would strongly disagree!)

I'd be in one heck of a situation if I had all of my units go vacant for a month or two, and expect to have that money to pay expenses...and no safety net.However, what if you could take your side of the equity and find your feet. 

Advising him to invest in anything on his own is foolish.Chances are he will lose it all, or pi** it away, on cars and toys before he is 25.

Your only real question here is how much additional equity can you earn before you sell before the rate resets and before you lose your capital gains exclusion, versus the opportunity costs if you sold and cashed out now.

Hopefully your agent can help you out - this is where they earn their money.

Or the market tanks and the value of the house goes down and that creates issues (selling at a loss, who brings money to the closing table, etc.