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).

That means paying all cash isn’t an option unless you plan to bring another $600k to the table. . 

HCV in the area pays $2,200.

buy house  find renter rent house maintain house pray they pay rent and dont destroy it.

Keep in mind you will probably have a deductable to pay first.

If I identified the offender, I would probably bill them back for the wasted water and when they didn't pay evict them, or non-renew them if their lease was near the end because that is simpler. 

We almost went with a loan that we have to pay all the cost upfront and then get reimbursed on the back end and that was just not something we were willing to do.

If you are prepared for the costs involved and the modifications needed to the property to make the basement unit conform, the pay off of creating an extra rent producing unit is huge. 

Pay off debt .

I would rather invest in safe markets that produce a good return, then I can use that income to pay for a vacation anywhere in the world.I'm very pessimistic about the STR market in Hawaii.