To me it wouldn’t be worth the trouble to go after the other person or worth the potential liability of it happening again and possibly hurting someone.

There is no shame in taking some time to hunker down and reassess everything, and potentially sell. 

I would also be curious to see what the market rents in the area are to see what the potential upside is. 

What I hear from a lot of potential investors is that I just want a property that hits all the numbers I've read about in a book or heard about in a seminar.

Concerns: Although the cashflow is good, we weren't sure it's valuation and potential for appreciation since there is no good comp like this property in the area.

Eventually, I would like to open my potential beyond state lines.

Mike, My recommendation would be during due diligence for a potential purchase, ask for past 12 months of all utility bills, property taxes, and any other municipal requirements like rental permits, occupancy inspections etc. 

@Anton TikhomirovPrices and potential (cash flow) returns can be slightly misleading if the investor only looks at these. 

@Brandon Ortiz: each strategy has its own risks and potential rewards.Owning rentals, you have the constant maintenance and tenant risk associated with owning property.  

@Tom EvansCongrats on the potential STR in AZ.As for a shared well agreement, they can be tricky (even when it does not involve STR usage).