I had more experience than both of my partners in RE directly but they both bring expertise in areas where I'm weak, so it's a great fit.

Tenants know that they can skip paying the rent for months with little risk of being evicted; the incentive to pay the rent in California (and places with similar anti-landlord legislation) is very weak.

I'd target owners that realized owning rentals is hard work and cash flow is weak, especially with some stupid loan where the bank makes all the money and you do all the work.  

@Olebile Mogobe, it would be difficult to give advice without more information about your strengths/weaknesses, issues and situation. 

I can bring solid experience on the buy end, CMA, sell end, but the construction and rehab part is where my weakness is.  

I think 45 days is weak.. should at least be 2 full months, they give you 6 to close..

. ;)Ray Dalio said the Fed has "tightened themselves into weakness".Soros and Bass have billions shorting the Yuan, China, and Asian currencies.Credit bubble like never before, and China is burning through reserves.

First mistake, provided a free incentive to please and secure your tenant, you should always stick to the rules, you must charge accordingly, always enforce pro-rated terms, if/as stated in your contract ease terms.I always like to say that an exception, quickly extends into the rule (As a general rule of thing, we absolutely do not bend on any rule and enforce every element (within reason))Another view is that if you are the individual, the owner, the landlord, the point of communication, it is more difficult to distance yourself from the emotional element, sometimes the emotional attachment to the asset, will shut down your business side of thinking for a brief weak moment, you must restrain from that.

This puppy is coming down.Keep an eye on China, when that domino goes, the rest will follow.The Fed is going to raise rates one or two more times this year before they as Ray Dalio put it "tightened themselves into weakness". 

In Houston, 1% is about as good as you can hope to do in most cases, unless you are buying in sub par areas, and generally you need 20% down to achieve this.This deal looks weak to me.