Congratulations on weathering the storm of being out of work and then rebounding so strongly. 

Of course a gray area....tenant claims crack in window due to weather.

I am down here in Carlsbad California looking for land opportunities for my investors, the weather is perfect.

If there is another Great Meltdown, it will affect everyone...but with the right market generating high enough cashflow to lower rents and still cashflow if needed...and as you say, "the substantial cash reserves" on hand, any hard economic drop can be met.I weathered it, and many that were in the same markets (or type of markets) as myself did too.  

The weather is cool and temperate.I have found that just about all of my rental properties have mildew issues.I have installed vents in all rooms to promote air circulation.  

Forecasting for the next year says the appreciation is mostly flat, perhaps a tiny increase of a few thousand dollars.  

They don't have the insight to forecast markets, lack respect for downside (because they haven't been around long enough to have experienced it), and underwrite to the best-case scenario.  

I walked the property and and there are some minor cosmetic needs but nothing major needed now or forecasted into the immediate future.

Is it the weather?

(just had to make sure that url was not www.smallerpockets.)It is important that you have an accurate market rent forecast for your property- contact a realtor.