Are you paying any utilities as the owner, aside from water and user fee?

Make sure you have smoke and CO detectors in appropriate places, GFCI outlets near water, functioning mechanicals, make sure everything is in good condition and you shouldn't have a problem.

Investors are angry Capella earned over $100K in origination fees on that deal and claim Capella did not do adequate due diligence, disclose conflicts of interest, and acted in their borrowers interest and not the investors interest.I know others who invested in a problem Capella loan for a golf course with water rights and multiple home lots.

Say you have a fire or water damage in the house and you have to file a claim with your homeowners insurance.

First off, the water is probably coming from your unit.

Taxes are half the cost compared to CA and insurance is lower if not by the water.

The buyer's attorney claimed that only one of the two spouses signed the easement.There is a significant water view from their property, near the top of a hill. 

Ok, so maybe I am not getting it but I have a hot water boiler with separate zones for each unit.

A decent home away from the water in Rockwall should cashflow (unlike Plano and Frisco), look off John King blvd, or parts of Fate.

Just keep an eye on how both markets are performing, and maybe start small, like taking out $50k, so you can test the waters without over-leveraging.