I may seem overly cautious, but in City of Los Angeles, CA, to do what you want may potentially require any or all of the following (even for month-to-month tenants):Evicting the most recent tenant through a special processResiding in the unit for at least 2 yearsA minimum of $7,900 in relocation assistanceNot being able to evict anyone if all tenants are "protected" (10+ years in unit and 62+ years old or disabled)And of course there are more details

You “may” have to do some emergency repairs to the unit that could disrupt the illegal tenant (however you’re almost at their mercy bc they could trash your home)- so approach cautiously and with actual legal advice.

So there is a balance for sure.. and that is why I like to suggest investors try to pay down debt when they can and try to have paid for assets and be very cautious on what type of assets they take debt on. 

I would also be cautious as well, if you don’t have the 20% down what do your reserves look like?

Be cautious and demand a good deal (which are, admittedly, harder to find these days).

I view them as things to be cautious about.

It only reflects that New Yorkers are staying cautious and not rushing into to party like some of the 'destination' states which opened floodgates to party goers last week and caused havoc.

We just didn't want the tables to be turned and have them try to sue us for any wrong doing since we never had to go through this before so we were intentionally super lenient and cautious in the final invoice we sent to them with damages that were above and beyond what the little security deposit covered (maybe even too cautious). 

Many have been affected and will continue to be affected so we need to be cautious. 

I agree that in general, one should be very cautious of "Real Estate Investor Gurus", however, Mike Wolf is a different sort.