If the tenants don't care for the pool properly, it could cost you thousands to fix.

California's probate rules can be drastic in the event of death that having a proper estate plan in place can help in any number of situations, including if just traveling or incapacitated.These are all things you will want to discuss with your attorney and CPA.

It's properly leveraging (not over leveraging) the asset that pays off.  

A tax advisor can help with deductions and proper reporting.

All help is appreciated and I feel really bad because my other tenants go to work and have children that go to school and they are not able to sleep properly because of the loud music. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

And are insured properly.

I know he will be able to give you the proper guidance that you need in order to make a sound decision.

I am puzzled how people were able to complete proper due diligence that quickly.  

Proper underwriting is important.