They were older and the wife who paid the bills was ill.

They also handle maintenance, utilities, tenant turns, including cleaning and touch-up if needed, contracts, inventory, utility billing, and more.]SWOT AnalysisWhen evaluating an opportunity, I utilize SWOT analysis.

Quote from @Bill B.: Your property has dropped in value over the last two years?

If you want a lower tax bill then you would want deductions immediately, if you want profitability in the short term then you would want to depreciate as that spreads depreciation expense over the years.

No water bill, taxes would drop 75%, and no more mortgage.

The contractor came in and replaced it and upon closing whatever the bill was for the septic was taken from my money and given to the contractor and the rest went to the seller. 

I won't make any profit on it, but he's paying the bills and our hope is that he will buy it from me in 1-2 years or we'll keep it as a rental and he'll buy something else.

Consider paying down the high-interest debt strategically if it outweighs the potential returns from new investments.Additionally, understanding Real Estate Professional Status (REPS) and Short-Term Rental (STR) tax savings can significantly reduce your tax bill while building your portfolio, enhancing your overall financial strategy.

If your conservative you can put the profits in a risk free T-Bill paying better than 5% with no phone calls to unclog a toilet.If you decide not to sell, then let's tackle your question about PM.  

I wanted to get everyone that has done or has a ton of knowledge in the CA space for doing ADUs for the new bill that was passed AB1033 for ADUs.