Here we manage maintenance risk through a thorough preventative maintenance system (I used to be the Street Maintenance Manager for the City of Lancaster, CA) and we shift risk through the lease-purchase by receiving a large non-fundable down payment and making the tenant/buyer responsible for all maintenance.We set the purchase option price at a premium of 18% since the tenant/buyer has 30 years to execute the option. 

Pest control has sprayed everything while the walls are opened up to hopefully prevent problems in the future. 

Use a FICO Improvement coach like Blair Warner http://upgrademycredit.com/services/The terms I use are term 12 months, with possible extensions, 3% down, market rentsales price =  current appraisal or within 5% or current appraisal.Understand you have to also look at what the IRS considers a disguised installment sale and to prevent that.See http://www.biggerpockets.com/blogs/3/blog_posts/40...Best of luck!

I would also ask the tenant to explain the circumtances surrounding the shooting/robbery to see if there was anything they were doing, or about the property itself, that attracted any undue attention from the suspect or that could be changed to prevent another similar incident for happening. 

It allows me to preserve my margin, have the money to continue repairs and prevent an issue where the tenant becomes so below market that you lose them to raise rents to market level.

To prevent this from being delayed I will have to hire someone.

Does the gain on the investment property needs to be reinvested only to prevent the capital gains tax or the final selling amount needs to be reinvested.

Basically, it comes down to Texas having few, if any, geographic barriers to expansion, which prevents demand driven appreciation.As for why Texas didn't drop as far as the other markets, again, it hadn't experienced the unbridled appreciation. 

Consider the idea that a good property manager will not only save you time and money, they will also bring experience to the table that may prevent you from buying a problem property.  

Our shared housing program pretty much prevents a tenant from tearing up the property and we keep unfettered access to the houses at all times.