@Miguel Ochoa Borrow somewhere between the most you can get, and the least you can get by with.Where  you fit in that range depends on your overall financial situation and your risk tolerance. 

Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.Any lawsuits would 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).

It seems risky to me but I suppose everyone has a different level of risk tolerance. 

There are some great fun towns outside of CA of course, but depends on your lifestyle preference (and weather tolerance) as to whether or not it'd be worth the move.

Furthermore, it can get a bit wonky if the lease does not specify as to the garage and basement one way or the other, and their use of these areas has been tolerated for some period of time.

Rightly discerning her anxiety helps me understand her definition and position concerning risk, which is different than my tolerance of risk because of our personalities and life experience based on what we saw in our parents while growing up.Understand, my intent is not to "close" her like a salesman in order to get her to side with my position.

If your primary goal is equity and you have the time, skills, desire and risk tolerance, then the BRRRR strategy might be the best way to go but it's not easy to pull off remotely and is risky.

They really offer me the flexibility and risk tolerance I am looking for.

As long as it’s legal & the guest has bedroom, kitchen, bathroom & you price it accordingly you can generate some incomeI would put a note in the VR listing mentioning that it’s an attached property and loud disruptive noise will not be tolerated.

Sixth, I do not tolerate tenants that reject my communication.