Also perhaps the homes built in the last 10 years have sprinkler systems and even drip systems near the foundation to keep the soil moist.Look for signs when you are viewing homes....especially in the hot areas.When we evaluate homes, especially with buyers we're looking at the BIG 5 as best we can. 

You do have to keep an eye on your write offs to ensure you are showing a good NOI and not using too many write offs to show enough income to use for bank/lender underwriting on a mortgage/loan.

. - When we've review these options with clients the ending outcome is typically that it's easier to forgo the 121 exclusion if you want to keep this property; and do a cash-out refinance (taking on more debt isn't taxable) instead. 

Keep being consistent and it will come.

My question is, do I just not touch the first property, use the cash flow to reinvest and pay down the mortgage or save up for a downpayment down the road OR do I pull cash out of the first property to buy the next property?

(Time is money in this business)First - Keep a running list of every contractor that comes to the property and their first name, last name, company name, website, email address and phone number.

Keep more of that hard earned money in your pocket. 4.

Okay I'll keep that in mind.

Yes, I'll certainly keep my hand in the real estate arena owning and renting property until the day I croak, but perhaps not so aggressively that it's a burden.

Very creative, but solid.This also may offer the potential for you to keep your other home and rent it out as an asset, but that's between you and the investor who buys your aunts home to subsequently rent it back to you.