There are a multitude of REO properties doing nothing but sitting on the books of those same banks as non-performing assets, because they are afraid of regulations and public perception. 

In the end I'm learning more and more as I do this that cashflow REI has much less in common with the general public's perception of stock investing....and has a lot more in common with farming.

And keeping tenants long term, no turnover costs, is the way to good income.BTW, one bathroom houses have been considered OSBOLETE (I think this is from the American Society of Archetects) since about 1979.

There will never be a society where everyone works, takes responsibility for their own lives and supports themselves, doesn't get into trouble, etc.

At least such is my perception from talking to Serge.  

If you can manage to stay under the 4 financed units and take advantage of rising values, and low interest rates and purchase properties with a modest amount of needed repairs, you should are managing your growth appropriately. ( at least from my perception of what your real estate strategy is)Equity is a perception unless you use it.

A lot of times being a landlord it is about minimizing your exposure to liability.If a tenant or their guests or kids were to get hurt on the property, you can easily expect yourself in today's society to be involved in an very costly and possibly very long lawsuit.We advise owners not to leave on lawnmowers, ladders, weedeater's, yard equipment, or even cleaning supplies and chemicals.

Now, you're dealing with public perception as much as you are the applicable laws.Charlie's attorney pounds away at his client's commercial nature and the limited obligation of the lender.

If the neighbor isn't willing to do something, I would call the Humane Society and file a noise complaint.

We live in a litigious society with waay too many lawyers.