As a property management company in Washington, we help owners navigate these challenges and optimize profitability if they want assistance analyzing their property or planning future strategies.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

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.

I'm a local, CT based investor, flipper, and property management company owner.  

In addition I heard that is better having one LLC for each property and one for management only.

Newer buildings now have state-of-the-art amenity packages with pools, gyms, co-working spaces, high-speed internet, and community gathering spaces where savvy property management groups will have apartment building events to encourage this sense of community, all being a level of convenience and neighborhood community people cannot get anywhere else.

(With invested capital, this matters, plenty of people are worth "taking a shot on" in other capacities, just not with respect to managing my money).2) "Is this investment where I'm giving you money the top priority in your professional life?" 

-Management is low - you'll need at least 10% plus leasing costs - typically a month's rent for each lease-up, and sometimes a renewal fee as well-Insurance seems low-Are taxes accurate? 

I think a better option is to get a job in property management.

@Andreas Mathews admirable, but make sure you do some research so you understand what a PM can make.Starting your own PMC business will require 75-150 doors to make a decent living, depending on gross rents and your fee structre.Working for a SFR PMC as a PM, will require a RE license and you usually get paid a percentage of the gross rents the portfolio of owners/properties you manage generates.