Gutted one bathroom- vanity, shower/tub, toilet and will do the second bathroom tomorrow.

Unrelated LLC members are partnering up for GRMs of 15 and willing to deal with tenants and toilets at a 4 cap.What I see are future motivated sellers. 

- remove existing tile - remove drywall in surround and window area to the ceiling - replace drywall with hardibacker redgard hardibacker large porcelain tiles (16x16, 12x24) with smallest grout spacing possible- highest quality caulk that is mildew-resistant - tile floors, 4" base/behind/beside toilet, in addition to tub surround all the way to ceiling - angle tiles away from block window - re-install shower curtain rod  - replace fan/light with higher-performance model with humidity sensor - inspect fan ventiliation to confirm vent going through ceiling - inspect bath, sink, toilet plumbing and waste drainpipes - add quarter turn water shut-off valve - replace bath fixtures to single stem handle - replace bath drain with grid drain

You can be the bank and gain a nice return without tenants, toilets or termites

I later found out that it was because of two running toilets.

I have two properties with pedestal sinks in the half bath and immediately tenants complained...we put in cabinets over the toilets.  

It would be stupid of me to be giving 10% of my monthly cash flow to a PM just because I don't want to fix a toilet at 2 am in the morning.

Things like roofs or structural or things that make it livable....like missing toilets, missing heat, broken windows....sometimes flooring.   

You can shower at the gym, you can drink bottled water but you might want to consider water and toilets if they stay. you don't want clogs. 

All that said, what happens if after the 60 days cancellation period is up, the guy is still squatting on our property?