Collecting quarters wasn't worth it.

Acquire a few performing notes and just collect that mortgage monthly for the next couple of years AND they don't require half as much work as rentals.

Perhaps in return they collect an acquisition fee,  collect a construction management fee & share in a portion of the upside.

Most S8 tenants have a history of bad decisions, often having convictions, evictions, bankruptcies, chargeoffs, collections, garnishments, etc.

Quote from @Michell Chase: The signed contract states a deposit was collected, so I would make that part of your purchase agreement.

A project manager is responsible for overseeing your remodeling project, while a property manager handles the overall management of the property, including maintenance, rent collection, and more.

Higher rent, guaranteed rent payment, collections and damage you just call their commanding officer.  

I too know many investors who buy very low cost properties and own them for cash and collect rent weekly and a few collect monthly.  

Myself I think if one wants to get into real estate in CA you get into the bizz you get licensed so you can legally collect fee's you put in the hard work like most wholesalers have to now..

Some owners like collecting late fees.