Just set aside some for repairs and to replace worn out or damaged items.All houses will eventually need a new roof or HVAC system.We also have an upgrade budget.

Otherwise, he/she can be sued for a forceful eviction and be held liable for civil penalties, damages, court fees and other legal fees.

Explain the potential damage and costs involved with the water running continuously and put it in writing letting him know that he is not to touch the chain again, that if he needs service that he should notify you and you will take care of it.Additionally, there are devices you can get that will alert you if your toilet is running.

Once they move in, it becomes their damage deposit.

If it can't cash flow at approximately 60% of current market value and a once in a lifetime interest rate, it will likely eat cash until it is paid off.The nerve of these kids to want to go to college?!?

The growing list of issues include multiple poor quality tenants damaging properties and breaking leases with no recourse, and non-existent communication/accountability from property management to the point where I have zero faith in their personnel correcting the issues I'm experiencing. 

I like to think a jurisdiction would be hard pressed to revoke my rightfully obtained license without a healthy challenge for damages..anyhow MTR's are absolutely one of the most lucrative and necessary housing options on the Oregon Coast as very rarely can one find consecutive weeks or months of attractive furnished housing.

length of damage?

You definitely need insurance - one hurricane could wipe you out or cause enough damage to where it essentially (not literally) still wipes you out. 

Starting in REI can already be a little nerve racking, so I recommend doing your first deal on the easiest mode you can to build your confidence and build your skill set.If I had to do it all over again, I'd buy a personal home with 3-5% down then repeat every 12-18 months.