As an investor paying out of pocket for repairs or not having reserves is a dangerous idea. 

Hi Jean,Stock it with fish and have fun fishing all summer.Plant wild rice and maybe Ducks will show up--beautiful creatures to watch, and some people hunt them.Build a dock and toss in a small row boat....for romantic evening rides and something for the kids to play with.[1]>>> Have it tested for chemicals...some of these ponds have a years of farm runoff in them--pesticides and manure--it would be a shame if it's toxic.[2]>>> See if the sides go straight down (like a farmer scraped it out for whatever reason) and it would be dangerous vs. like a beach.Good Luck!

The potential danger here is that you never know what the future holds and if you get into trouble on one or a few properties, it can put the entire portfolio at risk. 

Also, the Google street view image capture is from may of 2019 and the embankment looks the same just less vegetation; since then we’ve had a 5.1 earthquake, a lot of rain last year and several hurricanes so while I would like to have a wall there at some point it doesn’t appear to be in any immediate danger...Thanks again for all the replies and opinions!

I can't imagine living in my home with a non-paying resident...that would be miserable (and dangerous).

Tell them in a written notice, it is prohibited per their lease, it is dangerous and is cause for eviction.

The IRS looks at the substance and would ask "do you exercise the power of officer or director"; if one exercises such power, they are an "officer or director", regardless of what the paperwork says.That this is "just in the House and has not passed yet" is no reason for complacency. 

It will slow down your construction, its dangerous, and it sounds like all kinds of issues with the health department.  

Learn how to spot liars, buy good tools, keep yourself in good shape, demolition is cheap and dangerous, finish carpentry is expensive and less dangerous.

I think COC is very dangerous with high leverage ratios.