But I have asked for $1500 to fix a deteriorating and falling over chimney that couldn’t be seen from the ground.

sits helplessly in her office while her buildings deteriorate, tenants stop paying rent, and eventually loses her buildings to foreclosure.The first has happened to me, the second I've seen happen to others and would happen to me if I truly treated this business as "passive" and solely trusted others to take care of my business.

The house had been sitting empty and was starting to deteriorate and I couldn't stand to watch it fall apart.

Makes $5-6,000/mo in AB&B rent.Most of this sounds pretty good, however, things in CA are deteriorating in many ways. 

All the updates done by third parties, somehow deteriorated much fasted, especially when you see it on the surface....so called “cheap flip”I’d rather have underpriced house and make some updates and I do want to choose the Tenant.

If it’s a 30k house and it’s been sitting for years with no water or anything the sewer line is probably deteriorated and who knows what else.

This was his response :1250.00 per side no lease both month to monthNo repairs to the property both ac are 2 years oldBoth water system are same age ans water heart septic pump got replaced 2 month ago and pump out as well some screen repairs to lanai porch and trees to cut back roof has been inspected and everything is in proper ordersolid the income potential is alot more but I'm selling because my dad use to help me out with the property but his health has deteriorated alot in the last year and he cannot longer help me out and I have a busy family of 4 kids and a growing business to put time to and simply just in my way now .I will take alot into consideration and so I don't waste your time or my bottom price is 213,500 kI looked up the tax records and he bought it in 2009 for 83k.I am thinking of offering 190k cash or 215k with seller financing.

This was his response :1250.00 per side no lease both month to monthNo repairs to the property both ac are 2 years oldBoth water system are same age ans water heart septic pump got replaced 2 month ago and pump out as well some screen repairs to lanai porch and trees to cut back roof has been inspected and everything is in proper ordersolid the income potential is alot more but I'm selling because my dad use to help me out with the property but his health has deteriorated alot in the last year and he cannot longer help me out and I have a busy family of 4 kids and a growing business to put time to and simply just in my way now .I will take alot into consideration and so I don't waste your time or my bottom price is 213,500 kI looked up the tax records and he bought it in 2009 for 83k.I am thinking of offering 190k cash or 215k with seller financing.

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.This article goes into a lot of the considerations about whether to form an LLC or not: https://www.mmpph.com/wp-content/uploads/2019/04/May-2019-newsletter.pdfCalifornia is a sort of beastly state when it comes to taxes and filings.

Also if you buy into a HOA that's poorly funded or suddenly faces a special assessment between your entry point & planned exit, it may further deteriorate your returns.