Zillow states the following on their annual report, "If Real Estate, Rental and Mortgage Professionals, Home Builders or Other Advertisers Reduce or End Their Advertising Spending With Us or if We Are Unable to Effectively Manage Advertising Inventory or Pricing, Our Business Would Be Harmed."

If you spend money on advertisements and marketing that by definition is spending money.

Step 1: First part of the equationFIND OUT HOW MUCH YOU SPEND + WHAT IS REQUIRED IN YOUR LIFE, FINANCIALLY = LIFESTYLE OVERHEADCreate a spreadsheet and systematically track every dollar you spend. 

I dont want to spend $200 if I wont be able to mail anything. 

Is it a good idea to call pest control for the home (to do pest control around the home - proactively).

Why would you spend your money in a BAD neighborhood and in a city where the law is in favor of the tenant?

I have an inherited tenant that was arrested for two counts of delivery of a controlled substance.

But it just depends...I am always in favor of controlling assets personally if possible...I don't know the numbers or anything about this deal, but it sounds like you've got a lot to think about on deal structure...if this is even a good deal.Just don't let anyone steal your deal if it's viable....lots of sharks with cash out there. 

Keep things under your control that you are responsible for. 

Once they do, then spend the money to upgrade the interior so you can charge a premium over market for a nicer place.If they aren't paying rent on time or if they are trashing the place, then don't give them the option and ask them to leave.