You can buy the ESA letters online so it's an easy way to over ride LL's pet policies, and given that your tenants are out of the gate liars, I wouldn't be surprised if this doesn't pop up. 

@Bill BrandtHey bill, not sure why you came out he gate sounding so angry.

Gated community, 3/3/2car 1512sf built 2006 Monthly costs Hoa 66, insurance 57, management 89, taxes 58 rents for $1125 $212k value = $170k loan @ your 4.612% = $873 total $1143 (minus $18/mo)In the last year I had to paint the trim ($500) and fix clothes washer ($237)#2 preferred single story model, not Gated community, 3/2/3 car 1456sf built 1993Monthly costs Hoa 0, insurance 44, management 90, taxes 64 rents for $1125 $250k value = $200k loan @ your 4.612% = $1027 total  (minus $100/mo)In the last 2 year I have had zero repairs #3 non-Gated community, 3/3/2car 2200sf built 2007Monthly costs Hoa 57, insurance 46, management 98, taxes 74 rents for $1375 $264k value = $210k loan @ your 4.612% = $1078 total $1353  (plus $22/mo)In the last year I had to replace the stove ($590) and fix a sewer line blockage ($125)In north Las Vegas sewer is included in garbage,recycling/water bill from the city. in Las Vegas I bill the tenant for sewer per the lease (about $250/year)

And, as much as HOA's can be a pain, they do keep an eye on things so if your tenants are doing something they shouldn't be you will likely find out about it, where in a SFR you may never find out.In general a lot of people don't like HOA's or CC&R's (I get it), or the possibility of unplanned special assessments (I get that too), but a certain percentage of the HOA dues you would have to pay in a SFR anyway (landscaping, painting, repairs and maintenance, insurance for the outside, pool/spa, gates, etc). 

I also have a townhouse in Henderson which is either an A- or B+ because it's newer and in a nice gated community, but since Henderson includes areas like McDonald Ranch and Anthem which sell well into the millions, an A to me likely isn't an A relative to multi-million dollar estates, lol.It's funny I actually tried to buy in 2010 which was in the depths of the recession but I kept getting beat out by cash buyers, so I took a break and next thing I knew it was around 2016 and that's when I decided I better start buying before it's too late. 

@Alicia Gates I did not become a member.

Sometimes you also gotta spend a Sunday night fixing a fence gate.

Converting to storage- I guess you would need someone to be the gate keeper and you would also have to fence the place in to keep people out and protect whatever is parked there. 4.) farmland- In santa cruz this would be gobbled up as a hobby farm but out here in the valley 2 acres is not really something a farmer wants to mess around with in regards to farmland.

Its unlikely in my estimation that a crash will come in next 1-2 years and when we do see a drop it will likely be far less bad than the last but still if it doesnt cash flow out of the gate dont buy it 

Yeah, I agree, not just building equity right out the gate but the fact that your interest rate is protected in this climate for 15 years is very valuable.