As long as it appreciates at a good amount like it has and you are not losing money renting it out, I would keep it for the appreciation not be concerned about the 1% suggestion.

Since they are not needing a rental reference in the future, they seem to care less.

You might lose your deposit, and they would have to put the house back on the market and should disclose that the ductwork is deficient.  

Buying the first one is scary but I would not start big because your knowledge is low, and you might lose too much money.

Now, lose the fear, loosen the shackles, and turn off the machines. 

@Michael RayYou are getting a lot of advice to sell from people who likely don't have investments in the Bay Area or other high cost investment areas.First off - if you sell the property - you will likely lose 6%-8% right off the bat through seller commissions and other seller related costs.You would have to buy another property at 6-8% below market just to make up for it right away.Second, you have to determine what the property is appreciating at on an annual basis, while you are not cash-flowing, the value of your asset may be appreciating at a higher level than other asset classes.As much as people are saying they are leaving the bay area, there is little area's around the world with great weather and atmosphere(minus the homelessness issue) as the Bay Area.Cash flow is good as it brings in income but asset appreciation is where true wealth is created.

Yes it is common, but it's a load of *** that they didn't disclose it.We lose potential clients all the time who fall for competitors claiming they don't charge extra for maintenance - but we know they are lying and just hiding it.

The majority of them aren't really motivated, some I lose to competition. 1,000 letters really isn't a high volume even when you're using a targeted list.

You could easily lose lots of money and time with a contractor. 

I did not look out for the special assessment but was purchasing from a wholesaler and did not want to lose out on my down payment.