We use flow arrestor lines on washing machines and dishwashers and inspect them annually; we do not use refrigerators with water dispensers or ice makers (they are less energy efficient anyway) and we install trays and floor drains under appliances and hot water tanks whenever possible.

Spring is a hot single-family market, Katy, Baytown, Pearland.

They do have two pools, a hot tub, and a few other amenities, and you don't pay any property tax, since you don't own your lot.

@Tonya QuinnAnkeny market is hot right now for multi family.

If you're looking to own rentals, you buy when a specific deal meets your investing criteria (e.g. cashflow, appreciation potential, number of units,...)If you're looking to make money wholesaling or flipping, you buy/sell when you find a specific deal that meets your profit margin requirements.In both cases, don't base your action decisions on whether the market is hot or cold, but rather on the structure of 1 deal.

Pretty sure you hot deal needs to cash flow enough to pay the down payment loan in 36 to 60 months depending.   

I would prefer to buy local because I have some connections to begin building a team, but the cost and hot market is prohibitive.

Are you saying its so hot that investors aren't getting proper cashflow to make deals work, and that buyers are speculating on continued appreciation to justify purchase prices?

I have a 4-plex with a well and I’m redoing my plumbing so that I will have 4 hot water heaters.

Secondly, should I include a replacement reserve for bigger items like roof, hot water tank, appliance replacement, in this number or is that an additional number?