I know your eager to get your feet wet, but I see routinely how things can go wrong in this business in a hurry.

I don't know if I am being unfair, but  I am very uncomfortable with that.

The signage also provides a phone number for neighbors to inform on bad behavior or other issues that might arise, providing you an additional pair of eyes.Develop excellent and consistent systems/procedures for handling the routine stuff.

What is a conservative routine repair estimate, and what is a good vacancy factor?

I know I'm not supposed to let feelings or emotions dictate decisions in business, and especially in rentals, but I can't help but be slightly uncomfortable knowing that its up to a single tenant to try to sue me/us for whatever reason.

Even a single "routine" inspection at any point during the tenancy probably would have prevented this.

Something "beyond your control" to make it as uncomfortable for them to stay as possible...  

Rob K Good stuff, rob. we have a weekly list of stuff she does for each day. she gets in the routine. we do have to remind her sometimes. the bedroom/bathroom is hit & miss.we also teach her about $. she needs to save as well. we're very fortunate - she's a solid straight A student.what you're doing for your daughters is priceless.

They have been cheating on their taxes for years and are uncomfortable sharing. 

It could be one or more replacement properties and the amount needed to equal $655,000 or greater would be the purchase price plus routine selling/buying costs.