The benefit is that you can take control of the rental while still allowing them to retrieve their belongings.

@Cole Harris what's the benefit of making the move? 

I know I'm getting the tax benefits of depreciation, the minimal positive cashflow, and the appreciation on the property, but It's pretty much a long term play of slowly raising rents annually to increase cashflow, which will eventually get basically reset when my loan goes P+I in 10 years.

I think the testimony of many on this web site would indicate there is great financial benefit from taking either of those approaches.

Hopefully any BP members in the LA situation can benefit from the thought process.  

The program is neither good nor bad, there's just different pros & cons compared to cash paying tenants.Have offered to schedule a call with you numerous times to try and assist you, but you seem to prefer posting & posting & posting - which will take so much longer:(What are the chances you'll actually invest someday, given how long it's taking you to do basic research?

I have just under five rental properties and I understand the legal benefits of creating an LLC (married to a lawyer).

The city also benefits from a relatively low cost of living compared to other major cities, attracting both renters and investors.

Alternatives include seller financing, a lease option, or using an LLC or trust to structure the deal while maintaining tax benefits.

I figured that people would see the dimmers and at least give me the benefit of the doubt, and they did.Then I got comment No. 2 on the same problem, brought in my electrician, and he saw and explained that the lights had been incorrectly wired when I bought the place.