I have just had a pest control company out to the house to price a termite bond and he told me there is evidence of mice in the kitchen cabinets, garage, crawl space and attic. 

Good for a baseline.2) Create a pro-forma analysisRents (less 5% vacancy)Expenses (taxes, insurance, repair costs, 5% management fee, snow shoveling, pest expenses, anticipated annual legal fees (evictions etc))For commercial loan rates you are between 5.5% and 7.5%.

Pest control- we put mouse bait out along the fencelines and under the units, mow excess weeds and grass.

If you are a seasoned pro and you live in Austin like me then join the shark infested waters. :) Good luck.

. - Tenant contacted the PM repeatedly for pest issues and a leaking sink.

That said, sure it's possible, but I look at it a little like pest control.

Here's my general rule of thumb: if it's not attracting pests, interfering with neighbors, or causing permanent damage, I usually give them a verbal reminder of their responsibility and then leave it alone.

Favorable landlord/tenant laws, taxes do NOT reassess on the sale, land constraints with lots of demand, tourist destination (Lake Tahoe) right next door, consistent job/population growth, very minimal amount of pests, etc. 

Yes, but that is quickly shrinking with the rising cost of property taxes, insurance, security, cable, wifi, lawn service, PM fees, cleaning linens, book keeping, pest control, furniture and appliance maintenance, power and water, etc.Also, we bought the property new in 2018, rented it for a couple of years as a LTR and then when we went STR, we had to put over a $100K into it to upgrade it to luxury status to charge for the higher rents.The property has a great location right in the perimeter, and near to the Atlanta Airport, so that is what it had going for it. 

California is infested with vast numbers of bums, but we saw zero, yes zero, in Vilnius, the Capital of Lithuania, and just three drunks at the train station in Rome and one guy with a tent near a castle.