@Wade GarrettI actually have to respectfully disagree with a lot of the advice above, or at least offer an alternative  speaking from my experience as a landlord and property manager.It may depend on the type of tenant here (and their pay history - i.e. is this a recurring issue every month?)

It appears the eREIT offerings have attracted a lot of new $ that they'll get recurring revenue for managing in the future, so in that regard it was a savvy move and gives them a way to distinguish themselves from the competition in that space (and some of the competition presumably won't be in business as the crowd industry shakes out in the coming year). 

I want to run it by the community to get some feedback so I get practice and get betterHere is my second property:From this listing it is an 89 unit, building size is 42,720 Square Feet, it was built in the 1967, occupancy is 100% and average rent is $695, but we are given that NOI according to seller is $456,000 which makes for a Cap according to seller of 6% and purchase price of $7,600,000.Annual Gross Potential Income = $742,260Gross Expense: (Assuming 50% expense prediction, right now seller is saying 38%, we would need breakdown on what is included in expenses and we what recurring and non recurring) (371,130)Conservative NOI: $371,130Conservative Cap: 4.9%PITI Payments: (367,186) (Assuming 5.5% interest and 25% down)Net cash Flow per year: $3,944Would not cash flow based on this number.

@Gary BeharieIt's always good to build up recurring income.

Your sprinkler contractor should include recurring inspections in their bid to maintain your system for you per your local codes.I hope this helps, please let me know if there is anything I can do to help you.PaulSources:*© 2013 State of California OSFM California Building Code Development U.S.

Life can too easily take priority over property ownership for many - where taxes and recurring maintenance expense creates a liability rather than an asset.  

Newbie here and one of the recurring questions I have about LA real estate is: are there any common/typical issues that units have here in the LA area?

One recurring recommendation I have found has been NARPM.

I guess that's what excites me about this game (outside of course wealth creation and future recurring income). 

During my talks with clients I kept on experiencing a recurring theme.