The biggest pitfall is when a landlord tries to be "nice" - non-paying tenants are literally stealing from you, treat them like the criminals that they are.To calculate reserves for vacancy costs We average about 2-3% vacancy across our portfolio, I use 5% as the number for reserves.

The Sherrif can ban you from further auctions and its a misdemeanor offense i believe with cash penalties..  

No offense but I think when your current property manager retires you’ll be hard pressed to find someone willing to go on the visits with you.

All great, however, when we ran her background/credit check through Tenant Check LLC it came back No criminal, No eviction, No SO records but it literary shows ZERO credit.. no CC, no car payments , no nothing.

If they refuse to move out, evict through an attorney.When I tell tenants to leave because of lease violations or criminal behavior, they read the writing on the wall and move out 80% of the time. 19% will stay the full 30 days, or close to it, and then move out.

Tenant therefore agrees (a) torefrain from any behavior which is loud, obstructive, rude, offensive, boisterous, or disorderly; Any violation of this paragraph may, in Landlord’s sole discretion, be cause for termination of the Lease and or Tenant’s tenancy."

Thanks @Bruce Woodruff - that's the reason we're replacing it so no offense taken!

One of the few charges more offensive than “resort fees” hotels charge. 

I read your post and everyone else's here and not one person knows how much protection you currently have in place.As someone who was accustomed to thinking (mostly) "offense only" I can unequivocally say that the best offense means nothing without good defense.Offensively, you seem to be well positioned offensively.It's hard to say what to do next because we only know how your offense is set up.What happens to you or your wife's plans if either of you lose your high paying W2?

please take no offense but how is this a good deal\ ?