I suddenly changed realtors and my offer was accepted at a GREAT price!

About 20 years ago a house I lived in when suddenly declared "in a flood plain" and my mortgage company demanded I get flood insurance, I freaked out, called my insurance agent, who was also on the city council,,it turned out the back 2' of the property were in the flood zone,,nothing close to the house.

The tenant does have children, and in the event I attempt to evict simply for a non-pay and they are suddenly able to pay, I could be stuck with them and starting the process all over again.

that's right, I would not raise it too much suddenly, just small amount every time after talking to them about why the reasoning.

That fee suddenly becomes additional income, whereas a pet deposit will have to get returned if unused.

I would say some inflation on all expenses except for property tax, which are sometimes indexed on property value in some locations.You can see 30% yoy tax increase in Texas and Florida...Insurance in disaster prone areas can also suddenly increase.

IE max leverage go buy deals are going to find financing all of sudden just is not there like it is today..

Generally if it’s accidental, sudden and direct it can be covered by insurance. 

I ran the numbers with rough and likely mildly pessimistic estimates of total rehab, based on paying $425 total to have it in good enough shape to keep 70% of rent, then assuming loan cost of 6.5% (definitely pessimistic since the last two were around 5% for me), and they aren't all that attractive-  If $425k total in-Rent for $4200 total =$2940/month using 70% rule$2535/month P+I for $340k borrowed at 6.5% for 20 years $1500 insurance plus $2740 Taxes=$353/month for Taxes and insurance$2890 total MTI =Marginal to no cash flow, $7800 per year in paydown- so about 10% on the $80k I have in, Then market gain leveraged X 5- This is the big wild card, and the one where I may be less optimistic than the rest of the crowd. 4% sustained yearly gain would make the whole thing seem really attractive all of a sudden- but I don't see our economy expanding in the middle class enough for this to keep happening for much longer :(a 1% cheaper loan saves only $200/month- still weak sauce cash-flow wise. 

Louisville is fantastic for cash flow and is a safe place to start since we don't typically get caught up in the roller coaster effect of steep appreciation followed by sudden pull backs when the market isn't red hot.