After you paid for a hotel for your tenants for the last week while the ac, the heat or the water heater was broken.  

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

@Gavin Wynn In my market it is common for the landlord to pay for the heat and almost always the water.

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.

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. 

At that point we tested the waters and gave them the option to keep the money or to reinvest it in another property.

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.

Watch out for any water filtrations from the upstairs pool I have seen that happen in a couple of projects, make sure it's a good builder.I like boutique projects with fewer neighbors, more exclusive, less resale competition, and less rental & rate competition as well.