We spent some of the cash we had to close on the primary residence, do some work to the place and buy furniture.

I'd agree with him on wear and tear generally but mostly on the furniture. 

This proved to be a good thing as I started freeing up more time for my primary businesses at the time, an online high end furniture store and real estate.I realized that I condensed 5 years worth of failures into 5 crazy months.

I would need to figure out where to store my furniture in the meantime.

Being a landlord is like a furniture rental place, your handling junk debt on people who can't afford to own, but man do you make good money that can't be wiped out by competitors inventing the next hot thing. 

Once inside I could barely see anything as she had no lights on or bulbs and the windows were covered with black sheets, what strick me immediately though was the washing machine in center of the living room with no drainage, water was just running out on the wooden floor, the place was hot and stinky, she had no furniture of note just clothe in the corner of every room, the bathroom sink was stained with purple dye which was the color of her hair.

If she has 2 car notes of over 500.00 and a high furniture bill etc... and the income is not strong enough to support it than it should raise a red flag.  

Im buying some new furniture soon too so maybe I should finance that instead of cash?

The latter typically have a compromised upper and no full size stair case to bring furniture upstairs.

Plus, you don't want a tenant moving a big piece of furniture like this.