If the borrower doesn't maintain hazard insurance the house could burn down and you lose a very healthy part of your equity cushion, if not all of it.2.

Kitchen and bath wet areas.Flushing areas.Window and door seals.Around all penetrations (hose, faucets, duct work from vents, fireplace and chimney vents).Vinyl, aluminum or wood siding.Stucco or mortar cracks.Interior settling or shrinkage sheetrock cracks.If you have a basement and it has a sump pump, check to make sure it is operating properly, clean the pump screen and remove any soil buildup from the well.Clean and repair gutters.

I have a healthy credit line against my home that requires monthly interest only payments which I could simply draw off the line if I wished.

Don't go with friends, find a professional and keep a healthy distance.

I don't want to get into a lengthy health insurance thing but as long as you are healthy you can get coverage.

I would retain a healthy reserve account to cover vacancies and major repairs.

I posted an ad, say 80' long 10" deep trench of mostly sandy soil and for them to give a quote by email.  

Your survey company is supposed to give a topographic survey telling you what the current elevation of the ground is, and then an engineer is to test your soil to tell you what you're building on.

I think as Wayne said you can add a new roommate and amend the existing lease with an addendum.I would also screen the new roommate and make the addition of this roommate contingent upon him passing your screening.Also will have to make it clear to your tenant and new roommate that once he is added he inherits "everything".If your current tenant has damaged a wall or soiled the carpet prior to the roommate's occupancy, this roommate is now liable to these damages.

Then I know how much claimable expense I have for the month, as well as how healthy it is doing (cash in pocket) for each month too.I like yours as it looks like it follows the IRS list of expenses for your rental.