A reliable tenant stays for many years, pays the rent on schedule, and takes good care of the property.Reliable tenants are the exception, not the norm.

Definitely tread carefully here to avoid any discrimination claims!

Without the high leverage you reduce the top source of return in CA RE which is achieve via the appreciation on a high leverage property.  

I DO NOT care whether he drives a Toyota himself.

He told me they don't care if the houses make money, only that they more or less hold their principal because what we think of here in the US as volatility is laughable to most of the rest of the world. 

The previous owner took exceedingly good care of the building and there was nothing that need to be done except to raise the rents.

Quote from @Tiarnan Gormley: Quote from @Wale Lawal: @Tiarnan GormleyStarting your real estate journey while living abroad is ambitious but entirely achievable with careful planning.

I like that lawn and snow removal is taken care of in an association, but dislike that expense each month. 

Be careful asking such questions.

My advice is to tread carefully.