If a new one cost $1,000 and had a life expectancy of 15 years, then I would divide $1,000 by 15 and charge them for the remaining year of life expectancy.To make a long story short, my recommendation would be to charge the tenant for the trip charge required for the plumber to come out and evaluate the water heater.

. - Systemize your business so that your are not your own employee but you are a boss and a leader.

I cannot speak for the large bank employees but for us mortgage bankers, we have to license ourselves in each state we operate.

Here is my question for the community - what factors do you look at when evaluating the health of a market from afar? 

My question was more about taking into consideration all of those things you mentioned and analyzing the difference of risk involved, and how investors would evaluate or underwrite the deals differently. 

For the buy n hold investors, how do you analyze and evaluate deals?

I would appreciate advice on how to evaluate this opportunity.

@Eric Siebert The use of  Zillow and other sites can help you evaluate market values and rent prices to get a general idea.

In any case - I would re-evaluate the ARV to make sure you have it correct and go base off of that.  

-After a good credibility and standing of our legal entity is built, get int BRRRR strategy to build passive cash flow-Get into commercial lease real estate, again BRRRR strategy as it is not only evaluated by comp method, but based on producing income, that will allow bigger profit after rehab and refinance.