I received a full ride athletic/academic scholarship, so I was able to use the money that would have gone towards college tuition to fund my investment!

IRR viewpoint puts most US markets in late recovery, followed by oversupply, then recession.

. -1985-1990 Real Estate Doubled in Los Angeles-1990-1991 Crash ( Easy Money, Speculation, Fraud, Greed )-1994-1994 Crash ( Northridge Earthquake ) Market had moved upward 25-30% from crash prices ( Northridge Quake hit) stopped recovery and real estate prices within 20 mile radius crashed, losses 20-50% declines on average.

Since the crash, this property still did not recover, I also made a mistake back then and got myself tied into ARM mortgage for 10 years which turns into 20 years mortgage after 10 years and interest rate is variable depending on Libor rates, currently it is at 3.5%. 

You are no longer in small claims court if you file, your claim is over $5000.00Chances of recovery are basically slim, on amounts over damage deposit but you can try.

If it was big money that you can prove, I would concentrate on pursuing that angle for recovery.

If you want recovery for damages, take pictures, get the rental agreement from the PM and then file in Small Claims(SC) (hint: don't waste your time as winning is ease - - collecting is ney impossible).(2) highlights your PM agreement needs to address which party will file for either/both UD and SC as well as show up in court.

., I've made a good recovery after a lot of tears and hard work. 

After an allocation of land of lets say 10% you'll have depreciable basis of $225,000 with a recovery period of 27.5 years.

Since the current prices aren't supported by population growth or household income, another "recovery" is far from certain...