I thought I was a buy and hold guy looking for good cash flow and moderate appreciation.

In total moderation, of course, but still.....an illegal activity.What happens when kids under 18 or 21 show up at the house at a college party?

I'm a bit disappointed to read some of the advice posted by  moderators / long-time posters.  

I'm thinking about starting off with homes either in the 40k range needing light-moderate fix ups, or around 80-100k  that are fairly turn key.

There is always greed, which is great in moderation, but again if you are happy with the tenant and the rent and you don't see any additional risk to your assets, whats the harm in having additional occupants.

Alcohol is expensive and damages your body / brain. 

have a physical or mental disability that substantially limits one or more major life activities—including, but not limited to, hearing, mobility and visual impairments; chronic alcoholism (but only if it is being addressed through a recovery program); mental illness; mental retardation; being HIV-positive, having AIDS or AIDS-Related Complex

bill_id=201920200AB1482The section regarding rent control is under section 1947.12 paragraph (d): (the exceptions)(d) This section shall not apply to the following residential real properties:(1) Housing restricted by deed, regulatory restriction contained in an agreement with a government agency, or other recorded document as affordable housing for persons and families of very low, low, or moderate income, as defined in Section 50093 of the Health and Safety Code, or subject to an agreement that provides housing subsidies for affordable housing for persons and families of very low, low, or moderate income, as defined in Section 50093 of the Health and Safety Code or comparable federal statutes.(2) Dormitories constructed and maintained in connection with any higher education institution within the state for use and occupancy by students in attendance at the institution.(3) Housing subject to rent or price control through a public entity’s valid exercise of its police power consistent with Chapter 2.7 (commencing with Section 1954.50) that restricts annual increases in the rental rate to an amount less than that provided in subdivision (a).(4) Housing that has been issued a certificate of occupancy within the previous 15 years.(5) Residential real property that is alienable separate from the title to any other dwelling unit, provided that both of the following apply:(A) The owner is not any of the following:(i) A real estate investment trust, as defined in Section 856 of the Internal Revenue Code.

There are different levels of crazy who cannot take care of themselves, criminals who earn sporadic low income from violent crimes and reselling drugs and fake drugs and tainted drugs, those who's personalities will never let them hold a job for very long, the low IQ who cannot be expected to earn very much from their efforts, the workshy lifelong generational loafers, those down on their luck at the moment and the hardcore alcoholics and drug addicts (plus probably more types).Since they are not a monolith, a monolith solution will not solve the problem. 

Sorry, I should have been more specific:The unit is under moderate rent control meaning that when vacant, I can raise the rent to anything I want.