First time landlord

[Bhaumik Kanani]

Hello,

I need some important advice before I rent out my house in Los Angeles county. I bought house 2021 and rented it for few months but had really bad experience with tenants. They did not pay penny for 6 months and ran away when I filed for eviction. I lost 6 month rent and lawyers fees. Before I rent out house one more time. I need some important advice.

1) Full proof solid lease terms which gives me a best shield from bad tenants.

2) Looking for some cost effective management company too which is providing value addition services. 

3) Insurance information in case of eviction which gives me cover from paying lawyers out of pocket.

4)  Is it really worth to be landlord in Los Angeles county?

5) Are all laws in favor of tenants only? I came to know that being landlord is like worst business. Is it true? Is there any leverage for landlord?

6) How can I make landlord business profitable? 

Any advice is appreciated. I do not want to put my self in same situation again. Just came out of dark time with bad tenants situation.