On rentals where we are paying water, we generally prefer not to have external hose bibs, or that they exist behind a lock plate or can be shutoff internally from a controlled access location.

I am in the process of getting my real estate license and I am currently interning for an investment broker here in SD.

@Ali Boone your such a cheerleader for the home team ;) @James Bettauer Since you are planning to look internationally, you might want to have a glance at Central America (Costa Rica, Nicaragua) or South America (Argentina, Chile, {perhaps} Brazil or Peru {I have not evaluated these countries yet}).

(side note: the company no longer requires theemployee to sell or rent out their house, probablydue to too many problems such as ours)The Property Manager (company)We chose this PM since he was recommended by aneighbor who took an international assignment (asdid we) and was satisfied with the service hereceived.

I'm sorry it took so long, but we're still trying to get organized internally with committees and such.  

Your internal fire will get you VERY far here.  

Over the last few months I have been analyzing several potential multi family and industrial properties through local brokers/loopnet/costar in an attempt to find a property that would yield somewhere near a 10% Cash on Cash return and a 15%+ internal rate of return (including NOI, depreciation, and a 2% assumed appreciation). 

Costs $5k-$6k all in.1) The internal components are aluminum and have an increased chance of fire with society's increasing electrical usage.  2) In a claim, the insurance company pays out $, then looks to see if they can recapture some of the loss from other parties that are at fault. 

Our backgrounds are in international development and NGO management.

It sits in a great location ( 2 minutes from prime shopping at the Premium Outlets, 4 mins from Universal Studios, just off of International Dr which is prime for tourists and attractions).