That means that our options are either to let the lease expire naturally, or to evict the tenant for violating the lease for smoking pot inside / covering smoke detectors and risk having them become a tenant at sufferance or destroying the property.

My wife and I are very fiscally conservative by nature so our nest egg is more than strong enough to cover an extended shortfall, but I agree that balancing the risk via our leverage is a good strategy. 

As you're seeing, of course, things outside anybody's control can impact this - and Hawaii also has the potential to get affected by hurricanes, on the natural-disaster front.  

But I suspect their broad nature makes for a good book recommendation.

If it is a 4-plex by its very nature at least 75% of the property is a rental property.

Not sure how often mother nature requires claims to be filed in this part of the country. 

Tax specific questions are determined on the nature of the project and the sophistication of the Sponsor.

Naturally this led the person to come to our property & set our tenant's car on fire.

I have always been interested in rental property investing and naturally stumbled upon "The book on rental property investing" after reading "rich dad poor dad".

I found that when the appliance hits it's natural expiration date, it made more sense to just replace the appliance instead of repeatedly calling the warranty, who will fight you tooth and nail to NOT replace the appliance.