IF you have the funds to purchase a place in LA, then you can begin looking at options around you, You also have to recognize that if you purchase a place and inherit the tenants, all the downsides that come with rent control, the eviction process and of course the time and stress that can be associated with it.

I learned that lessen. #1. 

Coming into some funds and wanted to do the right thing. I’m in Southern California and want to buy a home as well as start getting into being a landlord. Any advice?

.- If someone in your life that trusts/loves you adds you as an "authorized user" to one of their cards, often you will inherit the full credit history of that card - for better or worse (so pick a 10 year old credit card that they've never had a late on).

I inherited my first tenant and ended up with her abandoning the property 2 weeks ago.

With inherited tenants paying below market rents they know they have been on a free ride and will expect changes with a new owner.

One other thing not in my original post, it is understood that an evenutal consequence is that our daughter's basis, when she buys the property, is the low sale amount, which could affect her in the future if/when she sells.It would be better, of course, to die first, and have her inherit the property with a "step-up" basis. 

Hi all, I recently bought my first duplex and inherited a tenant.

I'm currently in the eviction process for our tenants who were inherited in our rent control duplex.

Also the condo is likely to be cheaper thus lessening the impact of any potential interest rate hike.