This is cut and paste stuff. smh

I don't know all the facts here or your full situation so I will refrain from giving my opinion but seems that would be the clear-cut answer based on your one-line post. 

There are simply very many ways to cut the real estate cake landlording is simply one of them. 

As the settlement statement current is, I am withholding $5K as a security deposit until the seller vacates in 30-60 days with a post-closing occupancy agreement, before I knew of the problem tenant contesting a pretty clear-cut eviction process for non-payment. 

And on that note, working with a realtor - pros/cons (aside from commission cutting into profits). 2) I would love to meet with an experienced contractor about rehabs.

Not sure why it cut me off, but here’s the full post:So I’m a relatively new landlord, and I have a property with a basement I consider to be somewhat hazardous (more like a really large crawl space).

@Carol Kotchek, There's a couple different questions and answers in your scenario that keep it from being cut and dried.1.

Now as we have learned more, and have been educating ourselves more, we understand that having a fantastic and rock solid lease behind you is crucial as a landlord, but what we have now just does not cut it.

There are small private law offices in urban areas of Los Angeles whose primary source of income is taking 40% of the cut on 'cash for keys'  money from tenants who don't pay their rent.

Also, you may get away with that in Red Bank, and being pet free can make sense in an apartment anyway, but in many markets and SFH you cut your own throat with that policy.