Just like some pay $300 to attend a sports or music event, some pay $5-600 (minus tax deduction) to avoid the hassle/frustration/time loss of repairs of this sort...ceiling.

Started investing last year and quit my job in the music business in Nashville this year.  

Just always have plan B and C for when the music stops.

And Santa Monica is far from being a metropolitan-style city and so I don't really believe it's destined to be a city entirely composed of high-rises.

Both you and Henry provided very in depth responses that I know took time and effort to compose.

I discovered that even with hotels and AirBnBs, there's a shortage in STR due to extreme demand for the music scene, 3 sports arenas, the university, 3 nearby hospitals, and the fantastic nightlife, particularly by Bachelorette parties. 

The upstairs tenants have been complaining (even though I told both while signing their leases do not call to complain to me) that son is smoking marijuana in house, supposedly selling drugs outside of house (questionable), and playing loud music.

Sunday's and Wednesday's will surely not be quiet, and cars will most likely blast music with bass.

I agree with @Chris Music he pretty much nailed it. 

Verify State regs on deposits; eg in Calif we cancollect first + lastORcollect first + security deposit which can not be larger than 2x the rentYoung tenants have habits that disturb others;  loud music, many visitors, large parties that disrupt the neighbors.