I had done enough research and knew in my heart I wouldn't lose it all.  3) Have enough cash reserves to fix any surprises that may arise. 

Why I left California: stupid high taxes, pollution and traffic... and my house was worth way more than it should be and so I fixed it up and sold it (in September).Granted all these things were present when I moved there but once I stopped working in film and started RE investing I realized I had no good reason to stay in California (OK... minus the warm weather and high volume of attractive women). 

I whole heartedly believe in honoring my partners and being completely upfront with them.

But what your heart is saying is sell, pay the tax and pay off those properties. 

The truly bad-at-heart tenants, there is no way beyond the court system, and its necessary to get that process rolling asap.

Investors are generally opportunistic at heart...my focus is larger MF deals now, but if a stellar SFR opportunity comes across my desk it's very likely I'll take it...figure out what to do with it later. 

If you put your heart in it, you'll end up paying more, and that can spiral out of control and then you aren't making any money. 

Sometimes it's as simple as talking to them, telling them you will lose the home if they don't pay rent or you won't be able to afford your mom's heart surgery and your younger siblings will be homeless.You can serve them a 3-day Pay or Quit, even if the courts are closed.

@Derek Miller 5 to 7 days prior to the date you would like your first warm body is optimal.

Still, in this overly hot market, the cold markets are relatively warm.