Great post and many of the responses are valuable here. 

I'm a CA resident, so gains would be taxed as ordinary income.

But there’s no benefit to be gained. 

Greg - thanks for the valuable advice, and yes , agreed I have a lot to learn.

Ensure the property appraises at its updated post-renovation value to maximize the equity you can pull out.A refinance isn’t a taxable event, but transferring ownership to your LLC may affect depreciation or future capital gains.

Any information about land in reference to developing townhomes would be helpful Thanks @William Fuller Do you want to start small and gain experience in your market and then go from there?

They offer more than just savings—you build relationships, gain leverage, and uncover opportunities no one else knows about.

Quote from @Victor Lin: Hey all, I have been living in Seattle for a little over 2.5 years now and I like to think I know the North Seattle area pretty well and would like to finally begin my REI journey here.I am looking to connect with other new or experienced investors in the Seattle area to mutually learn off each other and ultimately just gain more knowledge.

Anywhere in the world.Purchasing a property in Mexico was a long, yet valuable experience because of what you learn in the process.Now we are acquiring more in Mexico because of the value you can purchase for and the income that can be generated.

there's no reason to partner that early in your career and give up equity - equity is the most valuable part of investing.