@Bill Ayers Out of curiosity, when doing mobile home deals, what are the primary considerations when looking to buy a mobile home as an investment? 

While we don't necessarily have the time to manage the properties 100% ourselves, we at least do have the flexibility to be moderately involved and plan to keep the property manager accountable and regularly undergo thorough audits of incurred expenses (i.e. request bigger ticket items $150-$200< to be submitted etc).Through a mentor (very large SoCal real estate investor involved in large Industrial, retail, and with vast experience in SFH-MF), I've been seriously advised against hiring a property manager - he's warned that while the baseline fees appear to be a good deal, the inflated repair bills, stalled evictions, and mismanagement will eat up cash flow and money out of pocket will be needed to make mortgage payments - even with the best PMs.Out of curiosity, what has your experience been like with property managers?

@Dominic IngleseOut of curiosity, what would you want them to insure against ?

So, I suggest you send them a notice that you have been overly generous in accepting late rent in the past, but starting July 1st, you will no longer accept late rent, and that all past due rent must also be paid up by that date.If your contract gives them 5 days grace period, say something like, "If rent is not paid by the 5th of the month, late fees will begin accruing and the eviction process will begin."

Your attorney will be able to file a new eviction for the rent accruing after the filing of the case.

I have a clause in my lease where if a tenant doesn't vacate by end of month they accrue a 3 month holdover penalty.She was give 60 day notice that ended March 31, and she left April 1, 8pm (and left the place a mess).  

At this point, I would be more concerned that all security deposits (plus interest if required to be accrued and paid in your jurisdiction) were transferred to you - this should be easier to obtain post-close as it does not belong to the Vendor, but the tenants, and the landlord is holding it in trust.You do have the right attitude, chalking it up to education - sometimes the pricey lessons are remembered best.

When a building is sold and the security deposits are passed onto the new owner, does whatever interest accrued when the security deposits were in the possession of the seller carry over to the buyer? 

The main purpose for this is, if for some reason, the debt is not paid over a long period of time (which, of course, shouldn't be the case because you should just evict) but if that debt did remain unpaid, then it would accrue interest just like any other debt like credit cards, etc.

@Kenneth Muench - unless you have a compelling reason to buy for either appreciation or a future cashflow jump, I personally find it REALLY hard to buy into negative cashflow. i don't know your particular situation but if you have the sort of money you mention, there are probably other possibilities outside of CA you might be interested in exploring, including paying off your home.What drove you to this triplex in the first place, just out of curiosity?