Nashville, Tennessee

Absolutely. It would depend on the number of properties you have and what your monthly expenses are (note, taxes, insurance). You have to prepare for vacancies as well as large expenditures that may occur.

I would keep at least 2 months worth of rent held at all times in an emergency fund. Another wise idea is to always take out a full home warranty on the property. That will cover all your appliances, HVAC, electrical and plumbing systems if something goes wrong, and only requires a small deductible...usually less than $100 for the repairs. I hope this helps you!