Did you require this or did they just get it on their own?

If you don't meet that 12 month seasoning requirement and/or want to hold the property under an LLC, a debt service loan may be a better option.

Quote from @Marc Shin: Would like recommendations for curtain colors and rug colors for this living room.

Quote from @Abhijit Roy choudhury: Financial Crime enforcement Network, requires reporting of Beneficial Ownership Information filing by 01/01/2025.Does this apply to us, Rental LLC owners.

This is prime real estate, and is just about the last piece of land in this area.I have begun to develop a commercial property that I own with contractor garages, which is the extent of my experience in this space.I'm trying to get a sense of how to structure something like this, with using LP's, and also partnering with a builder, and carving something out in that regard.Does anyone have recommendations on who is currently working in this space and could provide some insight?

If the LLC and its income are entirely outside California, it typically does not require registration with the California Secretary of State (SOS) or payment of California Franchise Tax Board (FTB) fees, even if you reside in California.

Hi Yael, I can connect you with an agent that meets all your requirements.

My wife and I started managing more properties for others as word of mouth recommendations started and we started to use the management and arbitrage cash flow to acquire our own properties and fund the BRRRs we were working on.  

Run your numbers based on youre required return given what youre likely to have to spend and the amount of headache, risk, and work you have to do.

For MOST counties the time period is at least 3 days notice required (for your tenant to comply).