What happens if you get sued 1-2 years after you lose all that data?

If a legal resident loses their key, as the landlord, you can let her in. 

Generally, here's the rule I follow with stuff like this: If every house on the block has a garage and you remove it from your house, that's an expected facet of the home that is lost and you will objectively lose value when comparing to another house from a "market value" perspective; especially from an appraiser's point of view. 

Treat him the same as any other applicant, but be prepared to lose the friendship. 

@Kyle SimmonsYeah, 1-2% is fair, but as mentioned previously, as the seller you can ask for whatever amount that you feel comfortable with so the buyer doesn't have the urge to just walk away from the deal without having anything to lose.

Mid STRs are the ones losing now, the ones that can't keep up.

Though that is a risky bet in most cases if you don't know and you can lose everything that you invested in.

Why go through all the trouble of sourcing and leasing up rental property only to have your acquisitions be temporary leases and lose out on all appreciation the property experiences while you're operating it. 

He is also using a HELOC to pay for the turnover costs of losing his long term tenant and making it rent ready.  

The reason we keep that number is if we have a major repair we have the funds, or if we lose a tenant.