Also, I would have probably gone crazy giving up control and leaving my retirement funds to the whims of corporate CEOs that mainly have their own self interests at heart.

@Nolan WhitakerIt does have a term which is five days after closing or cancellation of contractI would politely reply - “sorry it’s taking longer for the buyer to close but it’s not in our control and we have not breached the agreement as it states we will pay you within five days of contract close or cancellation which neither has yet to occur.

Further rent control and politics add risk for 2+ unit properties, though not so much for SFRs.

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Any lawsuits should be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced, some debate as to SMLLC).

I would have expected someone with 15 year experience plus their own accounting firm to know these things that I learned in just last few days (with your help, of course, and also thanks to @Basit Siddiqi @Eamonn McElroy @Taylor L.)But it’s possible that their specialization is something else (like corporate taxation) rather than real estate.

I wish I started in my 40s because could have quit my corporate job already.

as an NJ Native I am no fan of NJ politics. 

These days I have travel nurses and corporate rentals as MTR.

On the corporate side I have seen both SPE ("Special Purpose Entity") LLCs and Trusts used for holding assets, largely depending on what the buyer is looking to achieve.

Great So Cal appreciation, more politically conservative, and you are still dealing with higher numbers.