Since a lot of you are wondering the difference between PML and HML, here are my thoughts about it...Private money lending and hard money lending both involve loans for real estate, but they differ in source and terms.

So, if you create an LLC in another state, you will likely need to register it as a foreign LLC in California.

ChatGpt and Google is your best friend and use credible sources. 

@Bo Goebel Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

I'd have no issue if they mailed me or scraped TOT info to reach out etc, but to use a businesses platform to market and take revenue away, and have to disguise your contact info to do it...no thanks.I realize some of that is just the name of the game, and plenty are ok with prospecting this way but for me you can use the demographic of STR owners without directly sourcing via the competitions platform. 

@Sanjida RabbaniRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

I would also be weary of the alternative lenders who provided your pre approvals without the equity source lined up.

So, if you create an LLC in another state, you will likely need to register it as a foreign LLC in California.

@Andrew Syrios I will try and track down the source, but I read somewhere that the money has been spent and it will not be refunded by the county and they’re unsure how they will remedy it for owners, but I don’t expect any money back 

If your expenses associated with the rented portion exceed the income, you may have a tax benefit if you are eligible to deduct passive rental losses from your other sources of income.