I can pursue a legal action against the tenant or Baselane, but this will cost me additional $2-3K in legal fees besides dealing with a loss of at least $5K of rent and damages caused.

"Just a little damage" Walks flat, needs roof and cosmetics. 

The potential risks like unpaid bills and damaged property aren't worth the hassle.

(Inspectors are generalists, so specialists are essential for plumbing and electrical issues in older homes.)Structural Concerns: If potential structural damage is spotted, hire an engineer to assess it properly.Be Diligent and Proactive: Old homes often require extra due diligence.

When there is a vacancy, a leaking sink, a drip from the roof, a fallen branch from a tree, storm damage, a rough tenant, a potato down the toilet...whatever expense comes up in the future, and they always come up, that is what the cash flow is for. 

In addition you can use it to collect initial security deposits or to bill the tenant for addition items such as billed back utilities, damages, etc.

Not an issue here, but my mom just got a new roof in MN because of hail damage.

You might budget for them to last 20,000 miles, but if you rotate them and avoid damaging them they might last 30,000 miles.

We are currently looking at a HUD home in Georgia - I have a couple of questions and can’t seem to find a definitive answer - The home is currently in the OO listing period - our plan would be to buy the home doing extensive renovations (the home is in a “Historical” area so renovations have to be approved) once completed we plan on living there full time - it could take ip to a year to complete or longer I don’t know  - as I see it the OO designation is to be the OO for a min of 12 months - is this after the home has been renovated or after you close on the home - though the house could probably technically be lived in now it does have some water and roof damage and needs complete redo of electrical and plumbing - for me to deem it safe - so not really livable by normal standards - but no way it would be livable in just a couple of months - any thoughts or an actual answer to the OO rules 

You prevented me from further damage!