Simply put the risk of a non-renewal costs more.

My question is - Shall I simply not take a chance with her and inform her that I have found discrepancy on her application and her background and just ask her to evict?

This will provide you with detailed information about the area's crime statistics, helping you determine whether an incident is an isolated event or indicative of broader neighborhood safety concerns,Take a moment to check it out, and you'll feel more at ease knowing the facts,

It's simply factual:  you violated the lease by smoking, stop it, remove the resulting odor and that a repeat action could result in eviction and loss of security deposit.  

You're not in the position to be a cash buyer...as a former wealth manager, it's simply not a good play for you for many of the reasons stated above and more.  

Being a subject matter expert, not because you are forcing it, but because you simply ARE, shows through, and investors are rightfully attracted to that. 

Determine your maximum allowable offer (MAO) based on your investment criteria.

I'm not satisfied with not filing the rental in an LLC simply because it's more simple and might cost me an additional filing fee .

Depending on the value at the time of death and your basis you may need to file a gift tax return.I would speak with a CA attorney to determine the best type of deed to file and a tax professional to gather more information.

You don't get 100% simply because you replaced the item.