If you elect to proceed, Zillow sends two inspectors to the property to take pictures and look for possible repairs to arrive at a final offer.

We might be reaching the top of a cycle, or we might be a year or two away still -- not going to start that discussion -- but it is probably worth considering if only from the 'risk management' standpoint of having enough equity in it to get through the downturn, whenever it does arrive. 

@Dawn YoungI took a self storage crash course and they recommend to purchase a property that is large enough to employ at least 1 full-time onsite employee.

However if you 1031 you will be required to also buy something in that same high market - unless you happen to sell right before the market crashes and you can get better pricing when you buy a few months later.Also, it would probably be worth sitting down with a QI and your CPA who can advise you on the tax side - if your cost basis is super low it might be a good time to capitalize on the current market pricing to get your cost basis up to lower your tax liability. 

These folks have caused a water damage and downstair roof has crashed down in the washer/dryer room.

Next morning I get a notification that So&So is arriving that day at 5 pm and that I was getting 40$ ‘back for rent’.

It was only that low due to the crazy crash we experienced.

Did you investigate what happened to rental prices and the demand for rental properties following the crash in 2008 (in the location you are investing).In many places, values dropped 40-50%. 

Check out the inside of their car when they arrive for the appointment and, if you're thinking about choosing them, maybe even ask to meet at their current residence to sign the paperwork so you can check that out too. 

The crash there began in late 2006 and the house did not sell over a year on the market, so we began renting.Four years after that crash a tenant was interested in buying and the value was only mid-200k, so I decide to wait and try to make the money back on the value of the home as the market increased.