Based on the numbers you provided and assuming a purchase price of $200,000,this deal PASSED the 1% Rule.Assuming you are getting a mortgage( I know you are considering cash) of $150,000 on a $200,000 purchase with interest rate at 4.5%,annual taxes at $4560 and insurance at $1680 .Your PITI(monthly mortgage) will be around $1280.With a monthly rent income of $2000,you will have a gross income of $720.This is before reserves for CAPEX ,maintenance etc I think you should cashflow $500/month.If I was in your shoes,I will go for it

Have reserves and save all your net rental income in that reserve fund.

Confirm there are no active leaks in the water system. 

And is there anything that I should be doing to confirm the situation is as he says it is.

100% financing as a HML is available, but you would need closing costs and reserves.

I would confirm the purchase price and ARV by doing your own due diligence, and again this can make or break a deal.

You need to bring 35-50% equity, have cash reserves and a balance sheet to back up the loan. 

I would just keep your security deposits or reserves with the bank at minimum.

Do you have enough reserves for the other properties? 

Hosts who don’t complete this requirement before the deadline may be unable to accept new reservations.