Glad to be apart of the community and plug into the wealth of information and knowledge provided by so many folks willing to contribute.

Also, A list of things you can inform a tenant that are and are not situations (emergencies and non emergencies) that warrant a phone call at 3am or on weekends.

As a little background information, I have a degree in General Science from Morehouse college in Atlanta Georgia, a degree in Civil and Environmental Engineering with a concentration in Construction Management from the University of Michigan, and I just graduated in June from the Darden School of Business at the University of Virginia with an MBA.

Your local tax assessor's website probably has all the information you need to do the research.

Inform them the problem has been addressed and remind them they have signed a legal contract.

You need to provide more information than that to decide if it is a good deal or not.

This is just a start, but I think with a bit more information, you can avoid the usual answers here like, KC, Indy, Memphis, Austin, Cleveland, etc, etc (these are ALL fine markets, but I would assert that investing in any of those cities is NOT always the best choice for the out-of-state investor, based on answers to the questions above, as there are success stories on REI in almost every town in America).

Information about LLC formation and the basic ins-and-outs is readily available all across BP and in the podcast.  

This information was obtained from the Texas Real Estate Principles ll course. 

Your cash-on-cash return will (best guess given the information provided) be 3.8%.