Ironically, San Francisco voters finally passed highrise development restrictions in 1986 (Prop M)—just as the demand for new office towers ceased.A small minority was calling the nation’s housing boom a housing “bubble” in 2006, and by 2008 their concerns were confirmed.

I have did the following so far:1.) removed old cast iron pipe and pexed in all new plumbing for better water flow and for safer shower operation2.)  

And your always welcome to come and take a trip to the great town of Iron Mountain to view the property!

ok well, a lawyer will set up your corporate entity and get an operating agreement drafted once you have the business terms ironed out with your accountant and partners.

(FHA/VA, ironically, you cannot make that assumption about compliance with the law)

I now have a process in place, and I certainly will ensure my lease is iron clad on this issue going forward.  

Nobody respects a weakling.Keep this in mind, you must be the Iron Fist, in a Velvet Glove. 

Even BP for all it's anti-guru propaganda, has ironically become the guru.

I'm a newbie struggling with a ton of questions myself and ironically, your post touched on my issue with ROI when I did a search.

I did this at a much further distance when I was based in Singapore, about 2x the distance away vs your location.I think the key item you need to be prepared for is committing to a long term investment, understanding that it will take time to iron things out and be prepared to inject that time and cash into the investment.