(2) Variable cost: platform fees from Airbnb and VRBO, lodging/hotel/transit or whatever pass-through tax your local AHJ requires, cleaning fee, cost of replacement for consumables, repair and maintenance, etc. 

If you no longer have business operations in the old state, forming a new LLC in the new state and dissolving the old one may simplify compliance and tax obligations.Some states impose franchise taxes and annual fees that could make one option more cost-effective than the other.

Quote from @Michelle Howey: Hello everyone,I’m currently exploring ways to find off-market real estate deals and would love to get some advice from this knowledgeable community.What strategies or tools have you found most effective in identifying off-market properties?

When I consider the risk and the rebuilding costs, I am surprised the insurance is not even higher price.We got a referal for our CA FAIR agent from the RE agent and they were real responsive. 

You should split the costs - labor and materials together.

They also didn’t like the idea that Phase 2 investors would dilute their position when they come in later.What are some fair and effective ways to address this concern?

If so, have you felt the effects of these water restrictions in your rentals? 

Quote from @Robel Nessro: How is President Trump going to effect the Real Estate Industry, will it benefit the investors or impact the market and investors?  

Research state-specific costs and regulations to decide what’s most cost-effective.3. 

Is your concern reliability or effectiveness?