Those types of properties can bring in good returns, but the management can be intensive, and finding reliable tenants for both residential and commercial spaces might take some work.

Curious about the reason, I consulted my home insurance broker, who informed me that the property had a water damage claim filed a few months ago, which is causing insurers to be cautious.This information surprised me, as it had not been disclosed by the seller.

As for the legalities of setting up an LLC to protect you and your partners, I would consult with an attorney for best judgement. 

Depending on your loan it might only work in the STR game.HOA’s normally do not allow in the Oceanside area but if you get on the beach then they do with restrictions.If you want a personal consult let me know.I have a team here in Oceanside, Carlsbad.

Always consult with your attorney before you rely on the above information. 

Sometimes cities will allow this, but it depends on local zoning rules.If neither option works, it might be worth consulting a real estate attorney to explore your options.

My goal, over the next five years, is to utilize real estate in lieu of my current hourly consulting income, by building a portfolio of rentals.  

Starting local offers hands-on experience and control, ideal for learning the ropes, while out-of-state investments can provide better returns but require a reliable property manager.

To navigate the nuance in the laws properly for compliance and to accurately structure our LLC, I am looking to consult with an attorney who knows immigration + business + tax laws. 

Depreciation is another powerful tool, allowing you to deduct a portion of your property’s value annually.Action Step: Keep detailed records of all expenses and consult a tax professional to ensure you’re claiming every deduction you’re entitled to.3.