Historically we're also well overdue for a technical recession (two quarters of negative GDP growth) though the fact that we've half-assedly emerged from the down turn in most aspects of the economy is probably playing a part in the delay. 

My water/sewer is billed quarterly.

Flipping homes has risen 20% in the last quarter.

If you get something multi family, just make sure one if the units is habitable, even if its not ideal living quarters.

Agree the 3 points seems high, like you are buying down the interest rate a quarter point or so.

I had to pay $150 for a Natural Hazard Disclosure Report that mentioned an "industrial site" less than a quarter of a mile away.

with that much damage I would also turn over to your insurance company they may take a swing at it and go after the tenants criminally I know I had one tenat do 40k of damage in a 2 year old home I owned it was a 200k home.. and insurance covered about 30k of it and they filed a criminal case against the tenant.. not sure what happened..but its worth checking.PM cannot be there all the time.. unless you specifically pay them to do a monthly inspection or quarterly inspection..

They didn't mention the spiders were the size of quarters and the same color as the carpet, so you couldn't tell they were there until it was too late (they were walking on your foot). 

I'll bet that piece of info isn't going to be in the next quarterly newsletter of that hedge fund :D

Another strategy so you don't get into the paying penalty for too little taxes paid is to deduct additional tax from your  w-2 income to cover the rental income   (or you pay that tax quarterly).