The price to rent ratio is calculated by:Price to Rent Ratio = Average Property Price/Average Annual RentThe problem is Census only has median amounts but not average price and rent.Is it ok to use median instead of average in the beginning stage of research just to filter out markets?

I do require all tenants to carry liability insurance coverage, minimum 1M,  and insist they show me proof annually of their policy renewal.

Annual rent increases based on cost of living index.Additionally, based on the opportunity value of cash (min. 10%) this investment will only work if you refinance to the maximum possible.

How are the Total Annual Expenses in Year 2 and forward calculated?

Somewhere between 10-20% Annualized is realistic/attractive. 

I did also just Raise the annual rent  by $50 per month a separate and standard increse. 

One cannot depend entirely on the realtor to know all the details; they are the sales agent, not the business partner.I've met many investors who say the master lease is the tool to use but I have not tried.Last month at a meet up, I found a man who vacationed annually in the Keys at an illegal VRBO.  

As you probably know already, they have to pass Act 34/114/151 clearances, usually annually.

You should do an annual inspection to check that the house is being kept up and a drive would not hurt to check the exterior. 

Rent is 1300/month which is a little low for the market.My current loan has 19 years left in term, Montly P/I payment = $860.83, rate 4.85% annual adj.