Test smoke and carbon monoxide detectorsSet a time with your tenants to make sure these devices are working properly and not past their expiration date.

Maybe they have multiple offers, but I suspect in some cases they're just blowing smoke to get your to bump up your offer.

All rooms, all units, painted the same, and clauses forbidding repainting of any type, as well as no smoking whatsoever, all the same paint, color and manufacturer.

You also can't usually make changes that could be construed to alter the value of the deal, such as changing to a non-smoking policy, or no pets, etc. without reasonable opportunity for the tenant to locate new digs.

I knew which apt it was coming form so I knocked on the door and asked the tenant if anyone in their apartment was smoking weed, I knew they would deny it but I just wanted them to know that I knew what was going on.

My lease specifies a lot, including overnight guest limits, no smoking on property, no storage available, no covered parking, damages, late rent, etc.

But the silver lining would be the mortgage pay down and inevitable, if only nominal appreciation.

Chances are putting it into an LLC will do VERY little for asset protection,,,get an umbrella policy with several million in liability coverage.Putting a property in an LLC is not the 'silver bullet' people tend to think it is

How many smoke detectors and carbon monoxide detectors are required by law in the property? 

I pretty sure you are aware but, I will mention it any way, you should also include a 'Late Fee and Returned Check Fee, Application of Payments' section in your lease specifically outlining what fees they will incur if rent is late, if there is a grace period, what happens when a check bounces and what order will funds be applied (our order is: $ is first applied to late fees, then to returned check charges, then to other amounts - excluding rent - then to rent due under the lease) - If you're going to report to credit or tenant agencies if they pay late then you need to have a separate clause in there for that too - and also if you charge a fee for having unauthorized pets or smoking the home.. you need to have those clauses in there as well.