@Jennifer H.A middle of the road tactic we frequently employ with our student tenants, if they drop the ball at the beginning of our relationship, is to strictly enforce the late fee - even on the first offence - but, once the late fee is paid, we tell the tenant if there are no further issues throughout the remainder of the lease we will either apply the late fee to their rent at renewal or refund it along with their security deposit.This keeps the relationship with those who honestly made a mistake and, for those who make such conduct a habit, it is - to borrow from @Jeff Rabinowitz - a drop in the liquid fund ;-)

Are you aware of rent control in parts of the LA area, and the onerous regulations and hoops landlords have to jump through between that and the landlord tenant laws of CA?

Re-reading his post, it sounds as though he's strictly putting up money, and the other partner is making all the decisions.In our case, we work with a Realtor and a contractor.

I believe with the correct rules in place and strict management warzones are a excellent investments. coming from living in a so called war zone i think a greater understanding of the people living there and just getting on there level on each tenant by tenant basis. what do you guys think?

RE is a dog eat dog business, in many ways RE isn't regulated dictating ethical conduct and you'll find those "cheating hearts" in RE.

I was reading a post about the new FHA regulations and wanted to ask the forum's opinion.From my understanding PMI is now required throughout the life of the FHA loan.

All ferrets should be confined when not supervised as they are strictly carnivores and can not eat plant based foods or anything of the sort that is not meat based. 

Is this landord only fed up with regulations that he/she believes have no merit?

After all, it's the ones who did deals before you that you can thank for much of what has transpired lately, the regulator types just got feed up with the scammers and changed things for everyone.

I can't speak to CA laws and regulations, but in general, the banks will define the protocol for submitting short sale packages.