We also bought a pool table, ping-pong table, grill and patio furniture, and washer/dryer for our rental along with a couple of TVs, a DVD player, etc.One area not to skimp: chairs.

Period.To be successful you have to put away the distractions and. the shiny objects and focus on what I teach you, The biggest thing is negotiating with the seller about a win-win dealif you are BP junkie and you have to read everything 24 7, you're not ready for coaching.Laser focus is required.If you do it my way, you pay one coaching fee for  one year and keep 100  percent of your profits.

@Suzanne Player, after much back and forth and some recitation of the contract’s language, I was successfully able to terminate the contract using the inspection contingency.

Nobody will know why they led you to believe they would sell outright, but sometimes our why we landlord permeates through to why we sell.If it were me, I might find the type of buyer they are looking for (Like in my own portfolio of tenants) and try to make it a win-win.  

I think if you have a strong landlord tenant relationship than its a huge win as they can give you a local pulse in neighborhoods that you may not be in on a daily basis.   

Some of the best deals are from stubborn old farts you think they are winning by sticking to their guns.

@Joe Moore I agree with the win-win-win philosophy =) where in LA are you located?

I am an avid tennis player and consequently  the two Vacation Rentals I have/will  purchase are part  of a tennis community along with the other amenities offered in the area.  

Not the sexy $50k wholesale commission or 200K net profit flip but hey, its about solving problems and potential long term win for me right?

I've also heard great things about "Think and Grow Rich" and "How to Win Friends and Influence People", both of which I've found and downloaded for free online.