@Wes Blackwell writes essays on Sacramento on a fairly regular basis, check out his post history. 

All seasoned landlords out there,I have a situation with one of my rental properties, and hope you can share your thoughts how to handle it.I have been reading @Brandon Turner's managing rental properties book, and realize that I don't have a "regular property inspection" clause in my lease.  

While financial freedom is the goal it isn't necessarily attained quickly going that route.

And I don't want my money to be tied up too long so I can continue to invest or lend on a regular basis.And what are the advantages and drawbacks in doing this?

Better yet, have the monitors inspected regularly.

Once you start getting into some more transitional areas, your ideal 2% may be attainable. 

Id recommend reading the Ultimate Beginners Guide to Real Estate Investing by Brandon Turner, attend local REIA meetings regularly, and reach out the BP community with any questions and concerns you may have.

Track all of your expenses and income in report form and review them regularly with a couple of people you trust and understand your goals.  

Approval authorities are under regular review and are subject to adjustment.

If there aren't other offers on the table, they might not be willing to miss out on a buyer just for $5K.Also, is this a regular homeowner (non-investor)?