But like Brandon Turner mentioned in his Managing Rental Properties book, "lost in the mail" can also be an issue.

No issues, and I have the cash to pay off the loan at any time.  

Every month it sits there vacant there is the possibility of squatters, thieves and other issues.  

In NVsell on lease w option, no title exchange, landlord tenant relationshipsell on seller financing1. free and clear house, note plus mortgage or note plus DOT, title transfers, if default need to foreclose2. existing first mortgage, sell on a wrap or installment sales contract, due on sale issue, title transfers, if default need to forecloseHope that helps

I'm sure this is one of those basic/beginner type questions, but I figured the experts at BiggerPockets would be able to provide some good insight on this issue.

I guess my biggest issue now is making the first move.

I need some help on an issue.

Thats not going away, water issues or not.

I am sure there is a Houston equivalent that has an issue once a year that lists vacancy rates and other valuable info by property type and sub market.

They waived the appraisal contingency, so there is a good chance I'll have to fork over more cash out of pocket than I planned on the make up the difference between the price and what I get loaned.This is a hot area of town, and aside from these issues it is pretty much everything I was looking for in terms of size, location, and quality.