You can also diversify much easier and cheaper over geography so you are less exposed to the risk of a single metro area experiencing the loss of a major employer or other unique problem and messing up your returns.

Note that TN State Gross Tax and Excise tax is only if you are operating as an LLC.Not sure if your home has a propane tank.

No, they’re exposing to whole market for a reason.

Yes, they do and often it's the fraudster who trips-up and exposes themselves.

If you property has some real "condition" issues (exposed wires, missing handrails, roof half off) your conventional lender may still flag it.

The best way to ensure you won't have further leaks would be to expose the pipe from the exterior, put in the link seal around the pipe where it's coming through the wall, and then use a tar product like you said to fully seal around the entire penetration.

The money mostly went into new flooring, installing an in-unit washer and dryer, tuckpointing the brick I exposed, tearing down a wall between the living room and kitchen, and updating the kitchen. 

That said, so long as there is not paint chipping off the walls or broken / exposed Sheetrock, there shouldn’t be any issue.You are required to provide your tenants with documentation regarding warnings for mold and lead paint when they move into the unit.

Well, you INCREASE the risk by exposing yourself to having your loan being called due upon the transfer.

If you are doing the work yourself then be ready every time a guest cant get in, propane has to be refilled, extra sheets were needed and cant be found, they had a dog that you didn't know about and there is hair everywhere and you have a guest checking in, they smoked weed or cigarettes in the home and you cant get the smell out, the sewer backs up, the dishwasher breaks................ good times friends!!