Too much water, too little, minerals, salt, disease, weather, conditions being too good and creating a glut, demand changes resulting in no market for your crop, no pickers, shipping costs too high, on and on.

Perhaps in this case, it is the top on the tank that moved on them when they got up, they felt the toilet was lose because it made a weird sound, and maybe there was humid weather causing the reserve tank to sweat and drip around the base of the toilet?

I concur it is more like Phoenix since the weather is the same - hot and dry so that means replacement of a/c units and heating in the winter.

The weather was perfect the 4 days we were there.

>I don't know any investor who banks on or factors appreciation into his or her numbers.Ironic because I have used nearly a dozen RE calculators and they all had entries for appreciation forecast.  

Go for a house over a condo if you can.2 questions…first, what are your thoughts on areas in the northern part or panhandle where it might not be beach weather year round?  

I like to be near my investments and the weather here is not replicable anywhere else.

If so, you can do non agency DSC (debt service coverage) where the forecasted rent needs to cover the total monthly payment.

Those investors will be expecting the same “steal of a deal” that you were looking for so keep this in mind when you run your numbers and are forecasting future sales price.

It also appears that you could weather a lot of storms because of the cash position you have established and you're obviously making significantly more than you spend.