You have 4 that need to be off your mind and on a routine. #2&6 is where your daily attention should be.

I think we are leaning towards annual inspections, and we're undecided on whether to do a routine service agreement.

I was interested in investing in a market like Orlando : Median Sales Price: $115,000Median Rent Per Month: $1050Median Household Income: $42,418Population: 255,4831-Year Job Growth Rate: 4.6%1-Year Appreciation Rate: 12.6%3-Year Appreciation Rate: 38.4%Here comes the catch, I could not afford or have the time to be traveling back and forth from California to Florida routinely to manage the property, etc.

After seeing 800 or so REO closings cross my desk during the past 3 years, having the buyer pay any utility bill is outside the normal routine.

I have a fair understanding of home mechanics (plumbing, electrical, etc) but I  contract these tasks out almost always.Looking for connections for our next purchase (later this Fall) as well as fair contractor services (general needs in regards to routine / urgent repairs .

It definitely sounds like routine inspections need to happen with this tenant.

The Georgia Secretary of State, Georgia Real Estate Commission, Licensure and Brokerage, states the following: 520-1-.07, Management Responsibilities of Real Estate Firms(e) In order to provide reasonable guidelines for licensees and their support personnel, but without defining every permitted or prohibited activity, the Commission has identified the following tasks that unlicensed support personnel under the direct supervision of a licensee affiliated with a broker can perform:1. answering the phone and forward calls to a licensee;2. submitting data on listings to a multiple listing service;3. checking on the status of loan commitments after a contract has been negotiated;4. assembling documents for closings;5. securing documents that are public information from the courthouse and other sourcesavailable to the public;6. having keys made for company listings and installing or removing lock boxes from company listings;7. writing advertisements and promotional materials for the approval of the licensee and supervising broker;8. placing advertisements in magazines, newspapers, and other media as directed by the supervising broker;9. receiving, recording, and depositing earnest money, security deposits, and advance rents;10. typing contract forms as directed by the licensee and the supervising broker;11. monitoring personnel files and license reports from the Commission;12. computing commission checks;13. placing signs on property and removing such signs;14. ordering items of routine repair as directed by a licensee;15. acting as courier for such purposes as delivering documents or picking up keys [the licensee remains responsible for assuring delivery of contracts and closing documents as required by O.C.G.A.

I just kind of chuckled sent him a private e mail with one of my closing attorney in MS that I have closed well over 400 loans with :) I know you and I were routinely buying well over 100 houses each per year in portland in those years and those were 200k plus deals. yes the good OLE days for sure

@Carlos Enriquez That is what I am trying to find out is how reliable these warranties are for replacement of the major ticket items, again my experience has only been with smaller routine repair issues.I would be interested in what company you used if you don't mind sharing.  

WEll when you live in one of the most desirable places in the world with incredible weather and job opps of the high paying type.. that's what happens  :)  no matter what the price lenders in this environment will want whats called skin in the game , the days of 100% loans based on ARV are long gone.. ( unless your a very established repeat client  Like my guys I do this routinely for my clients but they have been with me more than a decade and in many cases we are well over 200 transactions together)So starting out as you are ... a HML will want at least in all the deals in the SF BA I have been presented with ,, they want 20% and sometimes will want you to also fund the rehab out of pocket.So take a 1 mil purchase and 400k rehab  ( pretty common numbers) and an ARV of 2 million ( again pretty common numbers..