I like the return and the safety of it :) :)

Analyze the local safety, political, and economic circumstances and get a feel of long term general (urban, industrial, infrastructural) development.

Use a combination of 4" razor scrapers and drywall knives to remove paper with as little damage to plaster possible.7.  

I think that's bad for the new tenant's safety/security, and the house's security as well (think: disgruntled tenant returns to deface property).  

After registering, properties are inspected every 10-ish years confirm they meet basic maintenance and safety standards. 

It's nice to have someone being an active safety net but to get that you have to build the relationship.  

@Duanne Moeller  as for safety of your note position I would say that's about as good as you will ever get..

I have two huge problems with this. 1St is that we would never have rented to them if we had known we wouldn't have the deposit as a safety net.  2ND, I'm not sure if I trust the PM.  

In a sense, you get the best of both worlds, the safety and ease of cash when you need it and the growth potential of leverage when it makes sense.

Go down to the city planners dept and see what the city had permitted it to be.The additional unit may be unknown to them and therefore illegal until you can ask the city to grandfather it in as is or make the necessary safety changes to make it legal and insurable.