While I'm thrilled this person is out, I'm out 3 months rent, plus legal fees and now about $2k in damages. 

On the other side, deals that are negative cash flow deals and your banking on appreciation are closer to gambling than I like. 

I am a get rich slow type of guy and dont gamble unless it's expendable money.

It was an incredible experience, but if I lost some money and gained experience, I still would have been thrilled I did it.After that, I aim for at least $20k on a deal.

Betting on an increasing market to make it work is just gambling.

If the later, seems like it makes notes much more of a gamble, since you don't really know what exit options are on or off the table.

I agree with the no to the boat and while I am usually fine with tenants finding significant others and moving them in (as long as the occupancy numbers are safe), this one sounds like a gambling debt coming in hot after a night in Vegas.

Property seizure is a good way to gamble with loosing your rental to pay a judgment.Failure to comply with the eviction statutes will, at some point, cost you big time. 

I see these deals come across from time to time, they get snatched up by a cash buyer who likes to gamble.

Always thrilled to partner or collaborate if anyone else following this discussion is open to that.Hope you had a great weekend.