If you had no knowledge and they broke the lease I'd issue a notice of non renewal, but give them the option to remove the cats.

@Robert StephensonIf you have enough equity in your primary or rental you can get a HELOC or HELOAN and use the proceeds as a down payment to buy another rental.

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.

She can set up payments to be paid on the 1st of the month and no one is driving 24/7. 

When the IRA invests in real estate using debt not only does it have to be non-recourse but the IRS says, you can use leverage but since you aren't only using IRA money for this investment the retirement account is going to pay UBIT on the income generated because of the debt. 

Investor’s deposit will be used to make interest only payment for construction loans.

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

They then missed out on several more years of growth because they got out of the game and waited on the sidelines for things to look better. 2010 to 2012 was the period that cash investors were the players or those with IRA keep in mind investor loans were still basically non existent in those years for all those expect very well to do Investors beginners were not getting investor loans. 

Down Payment: 20% of the purchase price, equal to $43,0003.

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.