Tankless are a PITA.Tankless require descaling up to annually depending on water and if you fail to descale as needed the warranty is not enforceable.  

In most cases it is the duration of occupancy by the investor annually, often as little as 2-4 weeks per year.

Here is my interpretation: You cannot deduct the full amount in one year. 75% of the points (other 3 units) if you use unit count = $9168 divided by 30 years your annual deduction is $305.60    Points are prepaid interest -treated as interest on Schedule E.

I didn't have to do an inspection when I purchased, but did an inspection recently (annual inspection I believe). 

What's with the annual inspections for a CO?

I've posted extensively about coastal Oregon vacation rentals and their challenges and production potential, typically a strong STR will generate roughly 10% of valuation in gross annual income. 

@Ashley Wolfe I've enjoyed following your journey.

There is a shortage of annual rentals if you ever thought about going that route instead of the STR route, thoughts on that?

Additionally, a deal like this (on city water/sewer) would only be worth about $330k, tops.Plus the seller is a pathological liar if he/she says their expenses are just $10,000 annually. 

Not sure if that's realistic or not.With self managed, reducing CapEx, I'm getting 4.11% 5 year annualized return, and starting off with $142 cashflow/month.