The costs involved to fix this situation included mold remediation, potentially replacing some of the water damaged studs/joists, and replacing the drywall.

Go ahead and clean or replace with new, any window curtains or blinds.Add up the cost of materials, and charge him a bill for them.

The tenant just indicated that she wants to stay for her third year and offered to pay to have the flooring replaced in the main bedroom.

Wanted replacement property in hand before selling investment property in WA.

I could most likely put some money down in a FHA loan and get a mortgage, however I worry that depleting my savings would put me at a high risk of not having cash for needed repairs should something serious need replaced.

Does anyone have a recommendation for a plumber to handle a hot water heater replacement in the Raleigh area? 

For example, most will require that the Building limit be at least the amount of the Mortgage or Replacement cost coverage is in place. 

But when you have to fix toilets, repair or replace leaking windows and roofs, repair or replace the floor damage from the aforementioned leaking windows and roofs, tenants destroying appliances,..etc. on top of all the land expenses your Op Ex will increase significantly.

My goal now is simply to amass enough cash flow to replace my lost retirement and finally retire as soon as possible so I can go fishing, permanently! 

Her sister told us that over the years the tenant in question has had to kick out certain roommates and replace them with others.