Such was the case in 2008 when the financial world around us collapsed. 

case in point.. the very best weeks to buy court house steps on the west coast is the week of thanks giving and week of Christmas.. 

Obviously, I don’t have a magic crystal ball so I cant perfectly estimate the cost of such expenses when they pop up but I can at least budget for them (which is the case in the example above).Regarding your second point, if the market is down, I could still hold the property.

But since there had not yet been a case in Colorado, he could not state whether he thought the HOA could prohibit it or not.So this is a really grey area and I'm not sure you'll find a definitive answer here.

I assumed there were some recorded violations, but the previous owner had removed the placards placed by Code Enforcement, so I was unaware of the severity of the status until last week, when I discovered the placards and an associated court case in the ACCELA database. 

Case in point: when I have difficult tenants, and their lease is up, I can send them packing.

This property is VERY small and I want to run it as a test case in the area.

We never looked at it as an attic as it consists of three finished rooms (2 large and 1 smaller) and a small bathroom which has a small tub, shower, sink and toilet.The second floor can be assessed by a stair case in the front of the house, and a staircase in the back of the house.

Case in point Holiday falls on the first of the month which is a Friday, and their company pays payroll the day after a Holiday which is Monday. expecting payment Thursday would be a bad idea, because that means they pay their rent a near week before payday.I would deduct from their security deposit for fines, tenants are living in a high value asset, they can destroy property confrontation should be avoided.You should take responsibility for pest control its your asset you are protecting.Steep fine for painting, you might as well say eviction, you will never collect that money.Don't restrict your payment methods. 

I don't think that is the case in this transaction given that he uses the same rental criteria for pre-approval he uses on my other property.