I started with multifamily but price expectations have gotten out of control.Just refinanced my multi-tenant retail property and pulled out much more cash than I put in. 

So, I would expect to lose 3 months rent maybe more.

@Ethan Slater here's some info we hope you find useful:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Certainty in this industry is merely an illusory facade - costs and timelines often exceed expectations by double.

Yes, #1 isn't exactly true, but it makes a point that not every landlord and rental can expect to get an A/B class tenant.

Since the property is in Los Angeles County, I expect the eviction could take 4-6 months, followed by another month or two to secure new tenants.

When I go to get more work done, I use the person that was fairly priced and met my expectations that first time, I do not shop around again for the lowest deal.

The guest stay with discount and toilet replacement did not cover the cost of the unit for the stay. i have the issue on occasion that the guest is expecting a bigger unit and thinks the price is high but they do not realize the value of the unit.  

(It sounds like you might have done that already) If you have a realtor in that market maybe ask them what the comps are for your unit to make sure it's not higher than you expect.

@Dave AllenRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?