I want to buy this as an owner occupant, live there for a couple years then move on to something else as I could potentially create a lot of equity and the house would later fill my needs after I move out of serving my college student market.  

Here is California's very self-serving explanation-Doing Business in CaliforniaExample 1Paul is a California resident and a member of a Nevada LLC.

It’s not that whole life or term is better, it’s just that they serve different purposes.

I am not saying that no one has ever put the "guru education" to good Its funny because most of the rehab guys I wholesale to never mention GURU courses.Makes you wonder if one would not be better served asking for mentorship from RE investors already in the game vs taking GURU courses.If I had to do it all over again I'd go the mentorship route.

CAROL WRIGHTReal Estate AgentKeller Williams Great LakesThe Monzo GroupMultiple Locations To Serve You!

CAROL WRIGHTReal Estate AgentKeller Williams Great LakesThe Monzo GroupMultiple Locations To Serve You!

CAROL WRIGHTReal Estate AgentKeller Williams Great LakesThe Monzo GroupMultiple Locations To Serve You!

IF he's wants more control and more liquidity investing in an appreciation market will serve his long term goals.  

But that conclusion is more about what is convenient for the CPA rather than the client they are serving...Unless the losses can be tracked without filing the state return and then captured as suspended losses when there is passive income from the syndication (this is what the OP’s CPA is proposing to do) - how is this possible? 

If I receive another complaint about you I will serve yiou with a 30 day notice and you will be forced to move.