Recently my tenants had a water leak that was covered by the HOA due to it coming from under the slab.

Its completely hands-off (other than monitoring your account), very liquid, no additional expenses (like a leaking toilet, new roof, new flooring, etc.), and not deferred tax liability (which automaticlaly happens with a rentla).Oh, and you still get a step up in basis --- don't know why it keep being sold "as-if" real estate is the only asset that gets a step in basis on death... 

Quote from @Ursula Leake: @Justin Brickman this is my strategy yet I have to occupy the house for 12 months not 6.

Look out for leaks and consult plumbers and electricians for assessments.

Several reasons: Too easily scratched by tenants and their pets, too easily ruined by water leaks, to finicky around humidity changes and lastly, holds every odor (including pet urine) known to man.

That letter will be placed in the file in case the file gets pulled for a QC or a Pre or Post Audit to detect mortgage fraud. 

If it's someplace like the laundry room in a single-story house on a slab, the pan may not be required by code, but the pan directing a leak to a floor drain might save the nearby carpet/flooring some day.  

The utility company should also have contacted them (or you-both your names should be on the utilities when the house is vacant) to let you know about a potential leak. 

Your guests are not going to notice or care about the leak under the sink or that the hedges need to be trimmed.

TIA The petroleum products leaking in the ground may be the best way to get results.