If that condo collapse did not tell everyone on the face of the planet that inspections are critical and HOAs don't always do the right thing at the right time, then just go home.Your buyer isn't under contract so you have nothing. 

The second property might as well have been on a different planet.

As for the guy who hit the house - undocumented immigrant who disappeared from the face of the planet :-/

A good friend of mine is stuck in a situation with a toxic user.

I don't have a lot to offer here, so I'll just throw in my 2 cents and leave the major meat for the LA pros.The key issues with Los Angeles are 2-fold- It is situation in California, which is both currently toxic to . . . wealth(?)

We get about 80 years on this planet, if we’re lucky.

For purposes of this Paragraph an environmental defect is a234 toxic or hazardous substance at a level and condition found above those set as acceptable by235 the United States Environmental Protection Agency, the Illinois Environmental Protection236 Agency, the Illinois EmergencyManagement Agency or applicable local governmental237 agency.

In that case, just agree with your wife for now, buy the property and send a few rent increase notices with you think it is appropriate and I can't understand why any woman on this planet would not like a little more free cash to spend at Nordstroms and that brings up another small subject about how my wife and I discuss money and other issues.

However, I see a lot of industry people (from Reddit and on BiggerPockets) advocating for commercial property management as opposed to residential due to the possibility of an early career burnout since residential management is demanding and apparently toxic.

I'd rather have an 80% LTV 30yr fixed conventional than a 50% LTV HML or toxic neg am, commercial, private or seller-financing not conveyed to you properly.Reserves, in general I carry 3 months debt service plus estimated repairs and cap ex for the year.