If however, the ejected occupant used a licenced property manager to obtain the rents, then a the unauthorized occupant can deduct a management fee, even though there is no contract with the property owner. 

Of the folks I know who flip, most have someone with a real estate licence on their team for this very reason.

I also got my Real Estate Licence and left my full-time job to pursue my real estate career.  

ARV and Est Repairs from most wholesalers are fictitious inflated figures that seem to come from thin air and they will argue with you that you do not know what you're talking about...

Turns out the guy next door had the water and lights changed into a fictitious name, changed the locks and listed it on AirBNB.

However, in both cases, if you held either property for those 62 years, whether it was in Ohio or California, you would have lost more money than you think that fictitious "appreciation" would have gained through the loss of potential exponential gains, as the "appreciation" increased the equity the same dollars as it did the PV. 

So if I do get a home to use as a rental, what are the licence / insurance / city requirements that I need? 

Will you need a new (type of) liquor licence, or dance permit or etc... if you go inside.What about buying a second venue (indoors) that's already operating and putting your "Stamp" on it, while operating the original business as is?

Let me check my understanding through an example with a fictitious investment:Gross income: $500,000Gross operating expenses: $300,000Net operating income: $200,000Annual debt service: $100,000Net cash distributions to LPs: $100,000Annual depreciation: $200,000Tax loss: -$100,000In this case, the income reported for the property is negative (a loss), but the LPs received their share of a positive cash distribution.

Leaving instant off basically is for people that want to vet up front.i vet them on backside using str licence agreement and their picture.if I find something I don't like I cancel at that time although really you don't want to cancel yet be prepared for what is coming