This question came from the Bigger Pockets Facebook Group, and I thought it was a good one.

According to this webpage on the CA govt website ..."

The solution is to stop the moisture.

The answer is Yes, you can.

Through the LLC structure it is possible to take advantage of the existing mortgages modified first at 4,125% 22yers and 1%, yes one percent, for 40 years.

While I’m not in a rush, I aim to strategically invest and grow a portfolio over the next 3–5 years to make a smooth exit from the corporate grind, as reporting to an office daily has left me feeling burnt out.What strategies would you recommend?

As a side note the "Median" rents for the whole country are on a HUD website and is updated every year to the new rent levels, so you can see how your rents compare to the HUD Median rents. 

You let it slide, waive the late fee, and she pays by the 10th.

Used the proceeds to complete the work on a fixer upper I negotiated for $45k.

The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”.