@Russell Brazil - Thanks for your honesty, I think I almost fell into that trap and glad I avoided it, just by an inch too!

While I love what I do, I do not want to be trapped in my job.

It does however become more difficult.Yes you made the age old major mistake in the beginning as every new landlord does of fall into the trap of trying to please their tenants and be the "good' landlord.

If I have you sign a year lease, I don't have to work hard because you're trapped for a full year."  

I have asked for a refund from Broad Financial, and this was their reply:"Our counsel is of the opinion that a foreign IRA LLC of which the IRA account-holder/LLC manager is a California resident is not responsible for the California franchise tax - as long as the LLC is not doing in business in California as per the definition in Section 17708.03.

What an exciting, and scary time....filled with opportunity for the taking.Don't get caught up in the traps of spending money. 

.- Additional subfloor (wood) and cement board (floor) $100- Shower cement board $75- Waterproofing Membrane (I like to do this) $150- Shower wall tile (80-90 SF) $150- Flooring tile (30-40 SF) $100- Tile setting and grout $75- Vanity with top and mirror (24" it looks) $250- Toilet, wax ring and feed line $100- Faucet, feed lines and trap $75- Trim $25- Accessories $40- Fan/light $150- Vanity Light $50- *Shower diverter valve with trim kit and plumber to install and help set tub/drain. $750- Screws, adhesives and fasteners (cement board screws, caulk, etc) $50- Paint $40- Miscellaneous $100TOTAL: $2530With all of that said these numbers would be my BASE run, and assuming I was spending my budget amount on each item.

Hi friends,  purchased my first rental in may this year, got it rented in mid June, signed a 12 month contract with tenant, about a week ago tenant sent me an 'official' email that there is a mice/rat problem, although there were cheaper options I went with professionals who were charging me 7-8x only because this is a long term investment and I wanted to get it solved, the pest professionals sealed the attic and set traps, they followed by couple of times to remove traps and refill bait boxes, my tenant now sent me lease termination letter citing health concerns due to mice/rat problem, they paid for current sept month and said that I can keep half the deposit for Oct.What should I do here, they have three small kids so I understand the reason for concern but I am also doing my best to solve the issue, should I go ahead and accept their termination or should I fight it out, not sure if involving lawyer is good as I am trying to make some cash flow and not lose it.. please advice also I am from Texas and would love to hear about TX law on this.

In our contract in Section 18 sub section (g) Force Majeure and sub section (m) Risk of Loss seem to offer the most guidance.

lol15 year has no real benefit other than feeding an emotional trap that makes people think debt is bad.