Two items that are often overlooked.

These are people who call off your advertisements, or items for sale and act interested.

Due to a local economy bust I am concentrating on fixing up big ticket items. 

When you add more houses, you might want to use accelerated depreciation on the property as there are some items that can be broken out and depreciated much faster than others. 

I'll add the eviction research to my list of red flag items I'll need to look into.

Ditto with all other due diligence expenses that are not paid as a line item on the HUD-1, but prior to closing.

(Imagine emptying a 40gal heater, or cutting trunk and return ductwork, for an item with a serial number on it.

I would argue though you would have a much better opportunity to retain your tenant if you fix all their maintenance request, assuming that the repair item was not caused by the tenant.  

we just have to think realistically through several of the items, but we do like using it.

Everything from:(1) contract a property manager, (2) analyze lenders apples-to-apples, (3) engage your contractor (and I've even included a document for your contractor to use to provide you itemized bids on work - no more guessing what you are paying for), (4) a lease agreement, (5) a "checklist" of business incorporation items to launch your real estate LLC and (7) even a BRRRR deal analysis spreadsheet so you can know right away if you'll be making a great deal.These legal docs are enforceable in all States.