If it is truly only cosmetic work I may not but anything electrical, plumbing, HVAC, structural, is getting permitted.From that picture looks like you got caught out by Tacoma Power for no permit electrical work.

It uses a powerful synthetic pyrithroid that attracts roaches and attacks their central nervous system.

With 1 or two properties if you have any major unexpected expenses it can blow a giant hole in the budget.

Do you get also a power of attorney?

(Not to mention unexpected costs). 

It is a little costly but you risk less of you capital and increase your buying power.

Alternatively, all CA counties publish annually in the newspaper the power-to-sell list (properties that are tax defaulted more than 5 years), usually in early September.

Through the power of tenant procrastination my turnover went down.  

If you have experience please share the pros/cons or unexpected benefits/disadvantages.

If I'm 45 years old and in the prime of my earning power I might not need that extra income today nor do I want to pay a high marginal tax rate on it.