It's a 4 bedroom 4 bathroom house in a Auburn AL which is definitely a college town (though I do not refer to it as a student rental).

I have enough for 25% down on a smaller investment property in another town 1-2 hours away from me.

Transfer the water meter to their control. 

There is always a "rain delay" or "the foremans truck didn't start" or "We called in the stake out, but they didn't do it yet" (Sorry they are big on stake outs and I have never had the towns/utilities be off when requested on time).

We already signed the purchase agreement several months ago...it has been on hold while they mitigated a pest control issue that has taken 2 months.If it's that important, make it part of your purchase agreement.

(Then you have zero vacancy, your business controls its rent increases, etc.)Rent out the garage to another small company. 

While I don’t suggest that the smaller type investor purchase and utilize “exotic” vehicles like foreign asset protection trusts, family limited partnerships with outside controls, or Byzantine or convoluted maze of ownership entities, the more simple strategies of using Series LLCs, self directed retirement plans, and paying off their home mortgage to the extent of the Federal BK homestead exemptions can insure that a plaintiff attorney never even considers going after them.  

Or any game that aims to reduce FICA.However, among other advantages, a partnership allows an even better control over your FICA taxes via guaranteed payments - a partnership's version of W2.  

Luckily both sites collect the taxes for our place.Our little town did implement a 1% tax that I have to pay separately.

A buddy of mine here in San Diego once helped a first-time investor navigate an 8-unit purchase in Eugene, and over coffee in Old Town, he told me how the local property manager there saved them from a zoning hiccup that could’ve turned ugly.