Just my 2 cents on condos, as a PM and broker in FL:1 - Most do not work, whether restrictions on lease duration, or due to the numbers because HOA fees cause low ROI.2 - Check rules in your state to make sure you are grandfathered in case HOA changes the rules.3 - Most SFR do better than MF not just because of HOA but also because there are low barrier to entry for 1,2, even 3 bedroom units. 

I’m looking for honest feedback (don’t worry, I can handle the truth!).

As a landlord, what is the best approach to handle this case?

If they own nothing then probably makes no sense to even spend money on attorney Check your state, but in most states it does not matter whose tree it is, it is up to you and your insurance to handle it.

The only thing that is stopping me is that I will most likely need to upsize my gas houseline to a bigger pipe since tankless wh require more BTUs, and my water heater is at the other end of my gas meter.Another thing to note is if your existing gas service can handle the additional tankless water heater loads.

I’d say it’s all about finding the right property management team you can trust to handle the day-to-day.

Seeing how they’ve handled similar projects—especially when things didn’t go as planned—can give valuable insight into their problem-solving skills and reliability.How do you usually gather this kind of information?

If you're handling RE and you have a partner, a lawyer is a very good idea.

Reliable property management companies make out-of-state investing simple by handling everything from tenant relations to maintenance, so you can focus on expanding your investments.5.

You need to maintain a reserve to handle unexpected costs in the first year.How much should you maintain in the reserve?