Water management is another huge issue - wells, septics, sump pumps - didn't really know anything about these, but have gotten an expensive crash course! 

@Joshua TanWe have access to a Landlord insurance program that includes 2500 deductible, 1 million liability, replacement cost, loss of rents, and water back up that is very competitive in price.

What got my attention with this property is how it compares to other water front properties in this rural area.

The joists are about 2 ft higher but there is too much in the way to get to the joists, water pipes, furnace ducts, would take more work than needs to be and I am fine with the ceiling height where the drop ceiling used to be.Originally posted by @Theresa Harris:Is there no framing about the drop ceiling? 

Be sure to outline your criteria so you can filter out lots of the unqualified potential tenants.

@Benjamin Klos I buy the water and gas line insurance also.

Hopefully it would take off and pay for itself, but it's hard to take that big of a plunge without being able to "test the waters" first.

A property I am interested in purchasing had some extensive repairs - water leak from roof resulted in wood rot.  

https://smartasset.com/data-st...Interesting that most of these cities are in close proximity to water and/or a coast of some sort.https://smartasset.com/data-st...

How about water?