You and your friends do not want to endanger your credit or run afoul of any local laws or courts regarding breaking a lease.

Just remember Neil, you may find a nice deal in SoCal, but there inherent difficulties with being a landlord in CA, tenants are generally treated as endangered species by the courts, one of the reasons I haven't been excited about buying more SFR's in CA.Andrew

No financial damage for me.Secondly they are kind of endangering the property and life.

First hand, I remembered why I became a property manager, as well why I refuse to rent from homeowners that employ my services.The ending story is, I will be moving February 1, 2007, I informed the landlord if his daughter the "apartment manager" that is she forced her way into my home again or continues to act as a fool in public , I will have her arrested for trespassing, and endangering the welfare of my child.

The tricky part is that where I live, the Indiana Brown Bat is an endangered species so you can't get an exterminator to do anything.

Right now flipping homes is an endangered profession.

Have to agree with @Carl Fischer - logical underwriting is an endangered species.

So I called FHA directly and was told it is possible as long as 51% of the property is considered livable, its 4 units or less, and that the commercial space doesn't endanger the occupants.

But the tenant is Section 8 so I understand a judgment will prevent her from moving...or possibly endanger her voucher if she doesn't pay. 

You have land with an existing structure on it, raw land, land that has been entitled, etc.The topography of the land, any views,if it has streams, flood plains, endangered species, weird lot size, etc. can all have big impacts on value.