Who will drive by to check the lawn or look for extra cars in the driveway or three unauthorized dogs in the back yard?

@Michael Langeman we usually get our lenders, plumbers, property managers, GC's, properties, lawn people, etc. etc. etc. from other real estate investors. 

Maybe, with different terms and that's up to you if you want to make that extra risk associated with it and how much you feel the other side needs to, too.

I usually give my tenants 12 filters at lease signing and then bring them more from time to time in follow up years.

As usual, the answer is, "It depends"...First, what are your goals? 

I like that you are running the numbers, but usually it's best to own a primary residence.

@Amit ShuklaCreating an LLC does not give you any extra deductions.

Usually, you're probably in trouble here.

An umbrella policy and maxing out the available liability coverage of the LL policy, usually $500k per asset. 

There's usually a time limit to have this mailed, and if tenant did not provide a forwarding address, I'd mail it to their last known address, as they may have forwarded their mail with the USPS.