Or go to the local casinos, if you just want to gamble your money away.Think.  

Your tenant gambled that you would let them break the terms of the lease.  

You have to do the math regarding what it's worth to keep a known hassle-free tenant vs gambling on a new one.  

And maybe some tenants who can't find the type of unit you are offering in that particular area, so they're willing to gamble you'll get the work done on time, and that it will be done right.But, even then, I think you'll be renting to people who will be coming into the rental with an eye that is looking for problems and things to complain about.  

But, they spend a great deal of it gambling at the local casino or on cigarettes or going out to the local bars or restaurants, etc., and they can't afford a car because of it, and are always looking for a handout.Then, there are those like me and many of my neighbors, who don't smoke, or go gambling or go out drinking or to restaurants, and always pay their rent on time, and have savings accounts,  and wouldn't dream of asking for a break.It's not just because a tenant can't afford to - or doesn't want to - own their own home, that a tenant ends up in a position to ask you to put up with them getting behind on rent.  

But I see other seniors in my building with gambling problems (lots of Indian casinos around here), who smoke cigarettes and/or pot, who spend their money at the local bar, going out to eat, buying new clothes, etc.  

However, that's a gamble and not a good business model afaiac.

A gamble.

You made some mistakes when you moved in by not protecting yourself, is it worth your time effort and expense or would you be better off simply accepting lesson learned.Many landlord will gamble the tenant will decide it is not worth the battle and those landlords are usually right.

I don't see huge upsides as there is only a few years left in the up swing and after transaction costs, it's not that fruitful to buy now and hold for another 5 years or so.Also, I'm in earthquake country and insurance is a gamble at best as they may deny a claim.