What if a couple has a child during the term of the lease and continues to live there with the lease auto-renewing? 

I had enough money in that account for auto-pay on taxes and insurance for 3 years (set it and forget it) but they never drew a dime, because the dumbass insurance broker (Part of StateFarm) messed up a number or two on the bank info.

Make sure the agent is knowledgeable in auto and casualty rather than life insurance and financial services.

Like all buy & hold rental investors it would be ideal to have equity, appreciation, and cashflow off the bat if possible, with responsible and friendly tenants that earn 3X the rent on auto-pay with no maintenance issues!!  

Considering it also covers your auto and home policies.

@Ryan Marrero I have thought about doing Airbnb for one of my properties in Northern NJ, but I realized when I received my first customer request to stay in my property for three nights, that hadn’t set up the logistics and business model to make it run on auto pilot.

@Christa S Rickard I'm sure you could operate at 21% but it suggests that you are on auto-pilot...letting the roof rot of the place with insufficient reserves...I'd like to take a look at the actual property performance if you're inclined to send it over...

So a seller could lose big time if you cite some technicality and wiggle out of your putative escalated offer.I can easily see a seller refusing a bid on just the existence of an auto-escalation clause alone.

For that matter, what does the owner information tell you anyway as far as any type of strategy is concerned.Is your tool grabbing tax data from county websites and auto populating?

Using a PM does not put your investment on auto pilot it gives someone else the responsibility of managing your investment which can be extremely risky.