This will simplify later management and development if that becomes a possibility.I would also then recommend a 3rd LLC that is a management entity for the property. 

A unique project in South Los Angeles is transforming real estate development in California.

This development promises to accelerate breakthroughs in computing, medicine, and more.PsiQuantum could benefit from $200 million in state incentives as long as they create 154 jobs and invest $1.1 billion into the project.

In CA there's no big supplies coming on the market in most areas where there aren't mega developers.

You'll develop tough skin and it will make other seller calls (i.e.

Leasing agent, maintenance guy, property manager, city hall-economic development, building permits. 

The land represents ~1% of the purchaseOn the contrary - if you purchase a $2 MM shack in manhattan on a postage stamp lot, the land could represent 99%Lever 2 - % of the property with a shorter useful life.Not all parts of a piece of real estate are depreciated at the same speed.Certain personal property assets have SHORTER lifespans in the eyes of the IRS vs the standard 27.5/39 year livesProperties with tons of this often have:- Over-developed land sites (hardscaping, pools, retaining walls)- Fancy Fixtures- Fancy Furniture (STRs!)

We mainly do developments of Self Storage locations.  

David Greene talks about this quite often on the podcast.If you want a mentor, you should develop relationships with locals and prove yourself to them.

I've developed some great relationships and also a business partner from these meetings.