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.

A good real estate accountant can save them thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend that they find a tax accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.I would also recommend that they look for a accountant willing to work with them throughout the year, who can help them strategize and who is responsive when they want to know the consequences of the financial decisions they are making throughout the year.Good luck.

Also be aware of Unrelated Business Income Tax (or UBIT) on leveraged real estate inside of an IRA.Or better yet, since you are self-employed - go with a truly self-directed Solo 401k plan, which would be a much better option and will help you avoid the UBIT on this investment.

It helps to make connections with your local flooring, tile, kitchen design studios depending on how high end you want to make your flip depending if it is in a HCOL neighborhood.

@Geoff Engel depending on what amount of available cash you are starting with and what you ultimately want to achieve will help determine your path.

Of these professional wholesalers, nearly all of them will be well capitalized professional real estate investors or large businesses doing hundreds of deals annually with many years in and around every part of the real estate investment journey.

Hi Michael,I agree with Bruce that rephrasing other people’s content can be risky, as it could potentially lead to plagiarism issues, and it doesn’t establish your business as an authority in the field.

Does anyone have or know any resources for analyzing car washes? There are a couple of car washes in my local area that are for sale that I am interested in but do not know where to start. 

Financing depends on your scenario and what type of property you're purchasing.

They do not take into consideration the revenue from the STR business as part of the selling price.So if comps say the duplex is worth 500k, then it is worth 500k.