@Eric MottNo direct experience renting in such areas, but I’m aware of the many difficulties.

When it comes to asset protection, many ways to skin it.

My sense is that he probably running into financial difficulty and now moved in with his parents (but that's just my speculation). 

The license means you have some 'skin in the game' and something on the line ..your license.

Surviving the recession by the skin of my teeth taught me that if nothing else. 

I don't do STR rentals, but I live here and I've heard about the difficulties.

If it is, have a contractor come out and replace the bad tiles, if your experienced enough you can do it yourselfI have no idea when they were installed and suspect difficulty in finding replacements. 

Also if i am not mistaken i can also use CalHFA and Zip / CHDAP downpayment assistance programs having my skin in the game very  minimal. please don't bash me too hard or discourage me too much, those of you who go too straight edge and by the books frowning at anything that is not 100% permitted or those of you who have the portfolio and income to turn down and scoff at these "garbage properties. i don't currently have that luxury and i'm will to get in and grind so i can have more free time to make a full career transition into Real estate. 

In all of these cases the properties are current rentals owned by a landlord.Sorry to hijack the thread about cashflow, but I am just looking for good advice on how to perceive these deals and whether or not there is a good threshold for what's an acceptable deal from a tenant and cashflow perspective, or whether I should solely be looking at the cashflow and just build a thick skin and deal with strange tenant situations.  

Just the thought makes my skin crawl.No amount of money will make that an attractive business plan for me, nope!