I'm waiting for that right deal, or at least until some of this frothiness comes out of the market.With Quantitative Tightening in effect, I'm hoping the hot money starts drying up. 

Non payment cases are cut and dry. 

I set aside a large portion of my excess income that I use for investing.

Anyways, the laminate is dried now but there are areas where it has bubbled up.

I charge each unit an additional $25 per month and just eat excess water charges if any.  

You could charge them 1/5 * $1000 = $200.If damages exceed the deposit, and you're confident they will stand up, you can send them a bill for the excess. 

I just did a drive by today and noticed my tenant is storing an excessive amount of household items in the yard, including indoor furniture. 

So if you're investing in multiple deals, you'll need to gain some understanding of the markets, review sponsor track records, verify their financials projections make sense and that they're using reasonable assumptions, make sure the fees aren't excessive (fees vary for each deal).

It absolutely was a win/win: Taxes went down well in excess of the fee charged.

I think we have come to a nice agreement... but nothing is for sure until the ink dries and the check is cashed or the keys are finally in my hand.