I've even had great tenants for 5+ years and then something changes in their life (drugs, dimentia, divorce, etc.) that causes their life to fall apart.Inspect at least once a year.

Proc. 2002-69I found this guidance and thought I would provide a summary:It was issued to remove uncertainty surrounding treatment of an entity owned solely by a husband and wife in a community property state.Essentially, if that entity is a "qualified business entity", and the husband and wife choose to treat it as a disregarded entity, the IRS will respect that classification.On the flipside, if they choose to treat it as a partnership for Federal tax purposes, and file a partnership return, the IRS will accept that the entity is a partnership for Federal tax purposes.A business entity is a qualified entity if:1) The business is wholly owned by a husband and wife as community property under relevant laws,2) No person other than one or both spouses would be considered an owner for Federal tax purposes,3) The entity is note treated as a corporation under Reg. 301.7701-2

Here is a treatment for you and this will sound opposite to what everyone else is telling you here: what you are experience is burnout, seeing so many success stories around you (I call them toxic motivational stories) but they aren't you discourages you. 

Keep in mind that it is always your responsibility to know the zoning, permitting, condition o fthe foundation, roof, electrical, plumbing, lot lines, chain of title, neighborhood, crime rate, drug houses, etc before you agree to buy.

Reason he gave it back was that it was at a bank in Mexico, so he wasn’t afraid of the IRS, his concern was that it was drug money and money needing to be laundered.

We had just enough money for the down payment, borrowed some of it, no cash reserves, ran into broken pipes, tree roots in the sewer line, tore out cement ourselves to get to the pipes, had police called, us called, fights, drugs, sleepless nights all in the first year.

One other point that is missed in wholesaling.. compared to building your real estate business as a licensed agent.. wholesalers are only as good as the next deal  its like drugs  they have to have the next fix..

The only thing investigators and the family knows for sure: The drug came from inside the Airbnb.

Sometimes, it involves crimes or drugs and it can get you sued, shutdown, canceled, etc.   

Criminals get the right of way, while the ones trying to do things right are punished.violence and criminal increases have been increased nationwide, maybe california/washington/oregon is the worst as the city is now heaven for drug abuse and criminal activity.just yesterday I saw a pair stealing a bunch of lotion from ulta store and run away LOL even the criminals are stealing skincare product now lolSay I need to rent place to criminal becoz it's the law ?