But we also don’t want to sit on cash for to long. 

Originally posted by @Scott Mac:It's not my business model, but having anyone live outdoors like an animal in the USA when they hand out Section-8 to illegals upon arrival is a hard pill to swallow.They need to sort the homeless into short term vs. forever types.Steer the help to the short-term helpable when they need it, and publicly house the "more eccentric" types out in the county away from civilization.Maybe have a poor farm where they can plant gardens to feed themselves if they are able...something to keep them busy.It would give all of them someplace to live indoors at least.This street begging/tents on sidewalks thing is Un-American.Just my 2 centsdo you recall the CC camps during the depression this is what your saying and what we need. 

So, I'm currently sitting at 2 doors (both vaca. rentals), and a single family with a good deal of equity.

It can absolutely work but what about the land the home sits on? 

I have seen many suggest limiting to below a dollar value for for multiple SFR fix and flip properties.There's obviously a lot of opinions and different ways to do it, but one thing I have been advised is that when you move on to a new LLC, don't wind down the old LLC, but let it sit on the shelf for a determined period of time, otherwise you risk taking on the liability of the defunct LLC yourself, which obviously defeats the purpose of your LLC.

There are people who never lost a days pay that are sitting in properties rent free 1-2 years.

Aug 23 electric company comes and puts 3 day note on door of squatter while squatter is hiding insideAug 24 DTE informs us that the bill for this cabin hasn't been paid for a long time, bills are often sent back "return to sender", over $1,100 is owed, gas will be turned off soonAug 26 electric company comes and removes meter, we haven't seen squatter since Monday night, we knock expecting an empty unit, 14 year old daughter is inside, no electric, no water, no gas, phone battery low, and the house is the worse garbage pit I've ever seen - 5 full size black bags of kitchen waste sitting near door, goat path from room to room, dirty clothes piled everywhere. not hoarder situation, just super dirty situation.

Would you be willing to sit on the board of an association where you owned rental units to have a say in how things are managed?  

Even though we try to help and offer advice to the new folks trying to get into this crazy business, it is downright amusing seeing the growing numbers showing up asking us to analyze their potential deals and suggest areas to invest.....usually with little apparent knowledge or effort on their parts....This business has the unfortunate appearance of being 'easy money' because the stories abound about the people that are sitting on properties worth millions.

as mentioned above there should be boiler plate mandatory mediation for these circumstances.. but as long as U dont sign the release the money just sits in title company account.. after some time with no resolution  ( At least in OR and WA which usually is very close to CA) money is then interpleaded to the courts for disposition then you both lawyer up.. these rarely go that far as lawyer fee's exceed the amount your arguing about.but splitting the baby in some manner is for sure a very common outcome if you dont want the drama.