However the basic idea here is that this property is golden and can never devalue.

People on this site discount the need to know how to renovate, but even if you're paying someone else you still have to have enough basic knowledge to know what needs to be done and how much it is likely to cost.

I'm sure there's a law that can be easily referenced in the CA Civil code or some other legislation that tells me why I can't do that... but basically the question is this:If I buy a property, distressed or otherwise, and it has a tenant in it that can provide a valid lease at market rate, I am under the impression that I have to honor that lease regardless of its terms or duration.

Basically i can't get anywhere because I already own 2 properties and my credit report shows it.

He would then maximize profits by building the houses in China and then shipping them here combined with a massive marketing campaign to convince the public that not only are his houses pretty nice, but they make you a little hipper than what you once were.

In other words, the immediate eviction clause in combination with the behavior is basically a coerced situation.

She basically said not really - we'd have to take them to court and that opens up a whole new can of worms that I'm not comfortable with.My current plan is to simply not renew their leases, and communicate to the clean tenant as such - and then hope he's willing to wait it out.I'm also thinking about sending the exterminator back in another time, at a cost of $450 for all 9 units.

Basically, I am attacking all recurring expenses possible without totally turning off tenants.

I agree with the previous poster that I would try to lock in as many conventional loans as you can though since its basically free money.Aside from that, you should be sitting pretty when the price points return to normal and you own a boatload of houses.The only other downside I see is that you're not getting to take advantage of having someone pay down the debt and/or the interest deductions.

(Not saying he is like that, but you always have to plan for the worst and hope for the best)That is basic concepts and concerns I can think of for now.