We follow the principals of COPE, which stands for construction, occupancy, protection, and exposures.

If so the LLC is 'doing business in CA' and you have exposure to the CA Form 568 and $800 annual LLC tax.

@Bob Huggins More booking channels mean more exposure and ultimately more revenue, you are on the right path.

The first pillar is a good insurance policy as that cover the majority of your exposure.

The second pillar is a good insurance policy as that cover the majority of your exposure.

However, I know people typically look for a higher cap rate (I've heard 10-12%), though this may be good for the area--I have no exposure to the location you're looking. 

@Douglas Ellis this is truly difficult to answer without knowing your whole position, experience, goals, etc. you can make an argument for each method. 20% down minimum exposure, rent as-is, won’t cash flow as high, but if you can manage and maintain, the product will hopefully run itself with the occasional maintenance call and such.

You’ll learn all the basic of owning rental property with a pretty minimum exposure.

Ideally, I'd like to have each asset purchased under a separate entity to reduce risk exposure but for now, we only have a duplex in mind. 

Net- IMO, these are a couple places where she could "park" her money and have exposure to appreciation vs inflation killing her cash.