This is a “horse property” with 4 large outbuildings (stable, riding arena, barns).

Hail and Wind.. when your roof gets destroyed by hail you have to pay your deductible.. again not if but when..I can see it for locals because I am a firm believer in investing locally when you can.... but there are many areas of the country I think that are far superior to Texas for buy and hold and Vegas is one.Vegas has none of those issues. 

I'm all for riding the market till it drops.

It's hard to not ride him out as a tenant building more equity right!?

On the plane ride here I finished "THE Book on Tax Strategies for the Savvy Real Estate Investor" by Amanda Han and Matthew MacFarland. 

Unfortunately because she chose not to protect your interests initially with a eviction instead of using a 60 day free ride she is now paying the price. 

Through the years I used to ride my high horse and tell wholesalers, to just give me the address and let me know how to see the house.....Now, any person who Im going to possibly do business with......

Once the tenant moves in, you are stuck with them for awhile, and frankly it is often cheaper to ride it out as long as they will stay.  

Also taking your example think like thisOKC -150k house rents for approx $1200 (i am being very general you may get more) with 25% down you have 38k tied up in the houseSD - 400k house rents for double so $2400 with 25% down you have 100k tied upFirst off, why would you buy in San Diego when there are cities all around San Diego that are priced much more advantageously, and those cities are much closer than a plane ride away.

Small world... my wife and I bought our first investment properties in 2008, let them ride for awhile, and now we're back into it in a big way.