Also, when not occupied, the PITI on a high-end home can quickly erode prior cash flows.

Having watched many prior co-workers get paid, cash their check at the casino, and promptly deposit it all into a slot machine I can tell you with pretty good certainty that casinos don't have a positive effect on disposable income and good use of the existing income in the area surrounding :)Are there solid local employers OTHER than the casino in a 15-minute drive? 

Most people really don't understand this fact (myself include prior to moving here) and it can trip you up if you don't have reliable "boots on the ground" or a thorough understanding of neighborhoods and blocks.

Never thought to inspect or check the water lines outside of the home prior. 

Whomever will do her taxes when she does sell, (can be done prior, and should be asap) will have to submit a change of accounting method form .....I've had multiple clients that never took depreciation and when they sold, we had to fix it...doing your own taxes isn't as easy as some tax software companies make it seem 

If they default, you keep deposit and anything they have paid prior to default and simply evict them.

@Steven CatudalWhat was the prior valuation compared to what you paid for it?

Lending and insurance are based on predictability and without question the frequency and size of losses will continue to eclipse prior records.

The home was a rental property prior and had been sitting.

I'm obviously bias now, but I've been investing in Reno for many years prior to becoming an agent.