A lot of people like to go the cheaper route, a few dollars and, maybe, a bottle of something to drink route.

I am about 100% convinced that the broken wine glass(previous tenants did not consume alcohol because of religious beliefs) is the current tenants fault but can't prove it.

Even if you are planning to manage it yourself, account for the cost of management when analyzing the deal. 1) Your wife's time is valuable, so consider this as money being paid to her for her time rather than a "savings" of not having to hire a 3rd party. 2) You might decide that you're not good at property management and need to hire one. 3) Your situation might change (birth of a child, divorce, disability, moving for work, etc.) and you won't have time, ability, or proximity to manage the property well if at all. 4) You might get to your passive income goal 20 properties down the line and decide you want to go sit on a beach and drink Mai Tais, but when you go to do it, suddenly a big chunk of your cash flow goes away because you never factored it in from the beginning. 

I also met him and his wife out for drinks--super friendly and nice. 

Add alcohol at your peril.  :-)  

It would probably be a lot less fun drinking beer and talking real estate by yourself in an empty room.

@Scott Skinger - I'll also be out in Denver at the Joe Fairless conference, would love to grab a drink or something if you'd like to connect. 

If the well dries up people look elsewhere for water to drink and survive.In strong suburban to urban core you have many,many employers that make a smaller percentage of the whole market.

I have been drinking the digital Kool Aid for about 3 weeks now just trying to absorb as much information as possible.

I will gladly buy a couple drinks or a cup of coffee for any takers!