I'd put my foot on her neck, and let her know to move correct when she tries to breath next time.I hate when people try to do stuff like this.

What you are asking is how can I get around not doing correct due diligence on the property and the answer is you can't and should not because that isn't fair to the rest of the development who bought there understanding the rules.

I would be happy to discuss some of the processes that I use to find quality tenants who want to live in and maintain a quality home. 

Fernando,Sounds like your mentor might be correct in selling both properties.

Quote from @William Silva: Randall is correct that PM can be expensive. 

Please correct my thinking but if I can refinance this and rent it with no money left in the deal I have a COC return of 100% right away BUT the opportunity cost of the $160k in equity will be considered too.

The key one for me is whether it makes sense to drop in some “correction” rates (i.e. negative growth) or if in the end it all evens out long term as @Kerry Baird writes...

I try to read books on different kinds of realestate investing and house fliping and I do think that they are useful but the information never seems to have a correct fit.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Im not sure what market you are in but on top of the sound advice above you need to be pricing your property correctly according seasonality and your competition.