We might have 3 offers out at the same time, subject to.  

- and the answer is something like "Well, you don't know that for 100% certain, that's one of the risks, but publicly traded stocks are subject to all kinds of regulations and the scrutiny of public sentiment.

Randy Sir I just want to say thank you very much for sharing your perspective and experience on the subject, for me it is very important to know what you the more experience investors in the house think, so as to be guided by your advise and experience, thank you very much on3c again Randy--James 

Passive does have a definition from an IRS standpoint, but to everyone else: passive is a subjective term.  

I would take out the 401K loan towards the downpayment.If you sell stock, you have to pay taxes - You mentioned the 15% federal capital gains tax rate(if you are not in the top bracket, otherwise its 20%).You may also be subject to the 3.8  Net Investment Income Tax. 

We concentrate on the subject property and the subject property only  I mean you start still listing documents - sure, vacant means no lease but plenty of DSCR Loans require leases / STR history. 

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

-Self-Employment Tax: While you anticipate the net gain to be zero after expenses and depreciation, any net income would be subject to self-employment tax, which can be significant.

I have a house in TX that I own subject to.

OPTION: There's a real knowledgeable member Ken that posts about Subject-To deals that you might want to connect with and even pay him to mentor you.