If not, now you're eating them (or trying to argue with the tenant in court in a messy, paperless legal battle, where the judge may lean towards the tenant since the landlord has no paperwork to prove otherwise). 

I don’t know how many people reading this lives in Miami but I am seeing the show Shameless in person.Little by little investors are Turning bad neighborhoods into places everyone wants to go.Little San Juan is now Wynwood (Great party spot and high end artists main stops)Overtown is now Midtown ( Great places to eat and shop)Liberty city is now becoming Magic City. ( A lot of new businesses opening up, a lot of Rehabs and New SFR Constructions happening)I started noticing this after a friend of mine bought a cheap lot and he’s putting tiny homes for AirBnBs.

@Jacob Beg "1200 demo for removing flooring" - We just completed demo of two layers of vinyl flooring back to subfloor in a kitchen, laundry, and eat-in nook.

I'm not sure how you have no expenses other than the student load as you need a place to live and you need to eat, etc. 

Monthly debt payments now eat up half his take-home pay.

Its about 850sq ft, and besides two small (probably about 5'x5') rooms when you first walk in on both sides (where the front windows are) it is one big open space.We were planning to wall off the back, and put the bathroom on one side, single bedroom on the other, and then leave the rest as an open space for the kitchen/eating/living space.

Make sure you budget for longer hold times with your closing costs, especially if using hard money as this can really eat into your profits.

I'll long-term rent it out and eat the negative cash flow, and do cost segregation and bonus depreciation.

As we were tapping out to our end game, we put a fat Heloc on our house for an opportunity fund. 

Lodging in San Diego is expensive, but sharing lodging and eating in can off set some of these costs.