Someone (probably ex tenant) kicked in 4 of the interior doors, two big holes in the walls, cherry kool aid stains on carpet, dead lawn, cut some wires in the walls, NEVER cleaned the kitchen and looks like used lard to cook everything, the cooktop looks like a couple of "smallish fires" may have happened and the (original, 1979) oven has NEVER BEEN CLEANED, oh and to top it off we have a family of THREE SKUNKS LIVING IN THE CRAWL SPACE.And of course I no longer live 6 miles from this place, I live 950 miles away.I just spent 1 1/2 weeks working on it, about 30 "contractor size" garbage bags, 5 gallons of paint, a million small things that you always run into.Anyway I found a "craigslist" cooktop and wall oven for pretty cheap, my wife helped a lot, even though she hates RE investing and my neighbor has been a godsend because the trash service only picks up the rolling dumpster, NOTHING ELSE, so he has hauled the other stuff to the dumpster at his work.I'm heading back to TX to hit the kitchen, exterior paint, front yard and finish the interior paint (oil base on the trim).

I haven't gone to any LA investor meetups yet but have been toying with the idea more recently.

Thanks for organising the meetup, Dominika M, it was nice to meet you :)I've been toying with the idea of buying a house to live in and rent part out, but in GTA the number just don't work right now.So I'll start with buying 2-4 unit multi-family properties.

If you leverage too much money and your properties are not gaining in value or creating cash, you might soon find yourself in a bit of a pinch.You asked so here is my opinion - To me it sounds like you are in good shape with regard to cashflow so long as the cash finds itself back in your business purchasing you more cashflow and not more toys!

As far as other people living there, not sure how you'd prove it, but I'd likely take pictures of the evidence you see in bathrooms, bedrooms, toys, etc., then leave another copy of the lease with the sections highlighted about late fees, payment, and other occupants, guests and how long they can stay.

If the value is in the land, then the house is a cost, as tearing it down and hauling it off are an expense.

Maybe I was leaning my original comments towards the novice, time challenged, low risk investor that just wants a place to put their money for tax benefits, cash flow, or appreciation over the long long haul.

That could be another deal I needed cash for and didn’t have, a killer vacation deal that just came available, or maybe a toy of some kind (home theater, spa in the backyard, motorcycle or whatever).

Now that I think of it, I have heard of AC outside unit hauled away after a job was done and no payment.

I am not about to give up because I am in this for the long haul.