For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

In addition, you would need enough working capital to pay for insurance (which will be going up a LOT in Los Angeles) and to pay for property taxes.Don't buy this unless you have substantial resources and a cash cushion to keep yourself safe.

I went to pay them, couple of days work I'll pay with a check (1099) and cash it for them.Hey Tony, I've got all O's info what's yours?"

What have you been paying for utilities?

You should never use a debit card or pay for medical expenses from your HSA, ever!

I spoke to local owners who have been audited for increasing rents without there permission and they had to pay back the difference!

If you have a lot of liquidity and a great paying W2 and can support your rentals, focus on appreciation/equity.

Expect to pay 4.5% once you account for village, town, school and county taxes. 

Conversation in local Bar, say I would pay all CASH How did you finance this deal?

Take those profits and pay off the rentals.