If you're already at a good place with your portfolio, and just want to maintain rental income, hang on to the property with it's super low interest rate and positive cashflow.

Common locations for supply lines to fail are where male threaded galvanized pipe is threaded into brass or copper valve and fitting bodies  (due to galvanic corrosion)  and hot water lines will rust up so badly as to start restricting water flow or begin leaking a decade or two before the cold side fails similarly.   

If it were me, I would pay it off asap so I didn't have this hanging over my head. 

Or at what point can I reach them to get past the initial hang up?

Texas is a great state to hang up your license and with property values increasing and rates on the edge of a breaking point. 

I hate the fact that I'd have debt (aka mortgage) hanging over me for the rest of my life. 

Hi Vlad.If you want to setup your own management company, I am not sure if another management company would have you hang your license there, learn what you can from them and then go setup up a company. 

I’m not talking about hanging a picture over a hole in the wall but let’s say small chips in paint on the baseboards might seem like a way bigger deal to a buyer in a vacant home than it would be to a buyer in a staged home.Just our thoughts on the matter and would love to hear other agent’s opinions!

The logic just defies itself.As for what will  happen, I'm thinking the fed is just going to hang tight until something breaks.

Super easy to do.Should I hang them on the side of the house up high or put them on the ground down low?