I operate out of Nevada so have known of Anderson for many years.

I've been doing this 20 years, so know how to operate these.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Do you have a track record of purchasing and operating real estate on your own?

Airbnb operates as an interest-based algorithm, rewarding listings that grab attention and keep potential guests clicking.

One thing to consider since you are a California resident investing is the compliance requirements for LLCs incorporated in California or operating as a foreign entity here - the rules here are different than most states.  

Board collected those funds and put them in Operating instead of Reserves.

Mostly due to the fact my spouse and I agreed on her to have zero involvment in any sort of RE investing (and its our home) I think once you have a good 6-12 months of reserve cash (operating expenses for your own life saved as a back up incase things go bad) save enough liquidity to get the ball rolling on your first invesment.

Hi BiggerPockets community,I’m new to real estate investing and currently running a remote operation to help connect investors with distressed homeowners and foreclosed properties across various markets.

Hi Eric,Great question—estimating operating expenses can definitely be tricky, especially for items like maintenance, CapEx, and make-ready costs that vary widely between properties.