California, of course as you probably know, is an exception in that it levies an $800 minimum tax for LLCs "doing business" in California. 

You'll want to check your local landlord/tenant laws for what you can and cannot do with deposits and such, but it sounds like you can get a judgment levied against them for breach of lease and have a judge impose this judgment.

Since the new levy systems after Katrina we’re seeing places flood that have never flooded before.

Or fees/taxes levied against landlords? 

Creditor finds out she now owns property, records their foreign judgment, and boom, your equity is gone and the property is levied and sold. 

@Brandon Levi EaganMake sure that all expenses are considered in your calculation.

I had the town levy a lein 6 months after I bought the property for $1200 in unpaid maintenance from the last owner.

@Eric Levy, Do what you can to improve the property for now.

@Levi T.

@Levi FlemingNo, an FHA loan is a product meant for a primary residence where you reside most of the time.