Purchase price: $212,500 Cash invested: $50,000 When we talk about long term rentals the goal is to buy something that people are going to live in 3-5 years with the ability to raise rent over time ahead of insurance, taxes and inflation.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

Sometimes its easier to knock down and start over. :)

.- I have the VA loan and have a VA disability rate over 50%.- I have excellent credit and over $100k in non retirement investment accounts intended for buying my first home.- No kids, just a significant other.- Zero debt.If you were me, what would be your next step?

If you’re talking about paying over asking or having a larger downpayment: Those aren’t  expenses.

Rategain is a new one for me and I wonder why you chose them over other PMS that are well known?

We took over the property management because the owner was having multiple issues with a few of the "tenants" that have illegally sublet the property, and we are now dealing with the ripple effects (e.g. squatters, dogs, dispute with neighbors etc.)The landlord is cash strapped, and has asked me to go in on the property/deal with him in order to get a cash infusion to cover legal fees & renovation costs. 

I know I probably wont have any luck but is it worth it to turn it over to collection agency if they can collect anything?

Split and sold on first showing over asking.

Even in the San Fernando Valley.A couple of questions I would ask your agent (as these are things I go over with my clients):1.