It looks like a great idea on the surface but the numbers don't stack up from a risk/return point of view as far as I'm concerned (it could be different for you depending on your return expectations).

Install low profile LED lights or wall sconces.If this is an investment property you need to be thinking about returns.

The $1,500 net cash flow you mentioned represents a tightened rental return that could provide consistent passive income.

I have spoken with so many people who say, "I have my LLC, I'm ready to begin" and I know they could've easily begun their RE investing journey without it.Curious to hear your thoughts.

Analyzing the neighborhood and the asset condition is the key to projecting accurate returns. 

Return of 37.5 after five years, closer to 40% with rent increases.  

The only thing is, he mentioned that I will have to file an extension because, understandably so, he does not have the time to complete my small business returns by 3/15 (8 days from today).

Gifting her cash simplifies ownership but forfeits these tax advantages and requires filing a gift tax return for amounts over $19,000 (2025 annual gift exclusion).

Given the expected appreciation, what is your expected total return if you hold it over the next 5 years.Can you cover the large negative cash flow, turnover costs and maintenance from other sources?

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Be sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.