Defaults and Remedies A default exists under this note if (1) Borrower defaults in the payment of this note or in the performance of any obligation in any instrument securing or collateral to this note; (2) (a) Borrower or (b) any other person liable on any part of this note (an "Other Obligated Party") fails to timely pay or perform any obligation or covenant in any written agreement between Lender and Borrower or any Other Obligated Party other than as described in (1) above; (3) any representation in this note or in any other written agreement between Lender and Borrower or any Other Obligated Party is materially false when made; (4) a receiver is appointed for Borrower or an Other Obligated Party or any property on which a lien or security interest is created as security (the "Collateral Security") for any part of this note; (5) any Collateral Security is assigned for the benefit of creditors; (6) a bankruptcy or insolvency proceeding is commenced by Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party; (7) (a) a bankruptcy or insolvency proceeding is commenced against Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party and (b) the proceeding continues without dismissal for sixty days, the party against whom the proceeding is commenced admits the material allegations of the petition against it, or an order for relief is entered; (8) Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party is terminated, begins to wind up its affairs, or is authorized to terminate or wind up its affairs by its governing body or persons, or any event occurs or condition exists that permits the termination or winding up of the affairs of Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party; or (9) any Collateral Security is impaired by loss, theft, damage, levy and execution, issuance of an official writ or order of seizure, or destruction, unless it is promptly replaced with collateral security of like kind and quality or restored to its former condition.

It does need maintenance at least once a year with Leather Food or the like to keep it nice.

When I started buying places as rentals, I also bought a newer condo and it's done well, but still struggles to cash flow (in part due to a long term renter and rent caps, but also increases in condo fees) while a house I bought at the same time has had higher turn over (allowing me to increase rent to market value) but does cash flow nicely. 

style of housing??

As the owner, you should also be more flexible about how nice the basement is - saving you rehab costs. 

Having said all that - my Ohio portfolio is nice and steady!

A nice looking finished basement will go south real quick with moisture and your tenant will soon be displeased (rightfully so) about the nice basement they initially thought they had.See what the market is doing, but also consider what your specific property factors are. 

@Cassidy Burns runs a great one which is a nice blend of education and networking.

Question 2: Where can I find state or city regulations regarding tree maintenance when the lease is written with gray areas?

Also, a 2 minute video walk through can be nice to have for anyone wanting a more in depth tour.