Cash flow is taxed as ordinary income (no FICA, though).

Banks ask a ton of requirements that it is almost impossible for an ordinary investor to get qualified.

I know the Federal statute laws, and I am going to assume CA follows Federal (ordinary I would look this up, but you are not my client).

In Spain, with Brexit a done deal and Covid on top masses of Brits have literally fled their places ( houses and vacation rentals they normally rent between March and Oct) on the coast back to Britain.

Besides any potential capital gain on the property, there will be recapture of the depreciation which needs to be reported as ordinary income for the LLC's tax return and flows to the principal. 

Don’t be ordinary and take calculated risks.  

@Brit Devine welcome to BP!

Even though these are extra-ordinary times I do come back to "give a mouse a cookie...he takes the whole jar".  

@Cole Britting not everyone can afford to buy and there will always be a rental market.

Ordinary people don't.