Many people who face this kind of price tag wonder if they can get away with patching their pipes. But if the sewer line is old there are almost certainly water conditioner other bad spots that will give you problems now or in the near future. A series of patch jobs isn't cheap. In the long run, it just makes more sense to replace the entire line.
With a putty knife, carefully scrape the remaining parts of the wax ring from the area. Clean the spot so that the new wax ring will be level. Place a new wax ring on the opening and replace the toilet. Bolt it back onto the floor, reconnect the water line repair supply tube and watch for leaks as the water is turned back on.
The con to time well spent is only if the fix or installation works. Suddenly, when a pipe is squirting water or the dishwasher is leaking all over the floor, that time seems wasted instead of well spent. Now your time is wasted, plus you have to pay for a professional plumber to come over and fix the mess. That time could have been spent doing something else, like golfing or swimming or gardening.
10) Tighten down the closet bolts making sure NOT to use too much torque. You aren't installing tires on a race car here so, take it easy Mr. Goodwrench. You just want to hold the toilet in place, not crack the porcelain base of the toilet or damage the drain flange.
Keep an eye on any leaks in and around the house. Inspect taps, pipes and your roof regularly. Watch for leaks and if you find them, get it water line repair as soon as possible.
People who own rental properties are great ones to give you information. With all of the service people needed for maintenance on their units, they typically know who to call and what level of work they perform. Most property owners will be more than happy to give you the information you seek. In fact, they were probably in your shoes at one time.
In short, the emergency plumber you hire should be from a reputable company. If you think that you can rely on him then you should look for another one. An emergency plumber should be skilled and should be able to deliver quality services to everyone.