You have very little control over these new residents who despite not being on the lease....are tenants because they lived there for 30-days and recieve mail there. 

For instance, the market is down like 7% this year +/- yet his portfolio is still even and has not lost money this year....very cool stuff.Regarding real estate, my suggestion is do not over-leverage when you buy.  

For more dynamic portfolios or assets that involve a lot of transactions, the IRA LLC offering checkbook control or a Solo 401k.  

.- Landlords often do not like condos because they have so little control over the HOA.

@Nicole Smith Take a breath, all is not lost.

Remember you don't have to own a property to control it.

I assume this is really meant to control the opposite situation.  

Even when I "lost" money in 2008 during the great recession, it was simply unrealized losses that recovered over the next few years.  

If you elect to do this right, get the drywall down and THEN get pest control service while still open.

If you are unwilling to pay that amount, you are probably chasing a lost cause.