Fair return is calculated to determine if the owneris maintaining the net operating income produced by theproperty in a base year, subject to CPI-related adjustments.https://www.readkong.com/page/guide-to-oakland-rental-housin...2021 - GUIDE TO OAKLAND RENTALHOUSING LAW

What MAY make sense is to setup a Master LLC that operates like a PMC and collects all your rents, pays all your property-related expenses, etc.The owner of each property (you, LLC, trust, IRA, ect.) would have to execute a management contract with the Master LLC, so the Master LLC could legally act on behalf of the property owner(s).Check with Account Closed read our 

I'm trying to buy, fix, and rent real estate and created an LLC with my partner who is putting up most of the capital but he will not handle operations at all.

A PM company in California is required to have a broker officer, so either your dad can take on that role and put you in charge of the operations, or you can obtain your broker's license first.

And I have a 7 figure portfolio invested in both direct real estate (via residential rentals) and syndication/crowdfunding passive investments (because I feel both have their strengths and weaknesses and I want both in my portfolio).To backup a second: You can find virtually every type of real-estate investment strategy ( core, core plus, value-added , opportunistic) and asset type ( multifamily , self storage, office, mobile home parks etc.) via syndication/crowdfunding.

I’m thinking this could help us with tax deductions, especially if we operate at a loss.Does anyone have experience with a situation like this?

@Larry Caper if your goal is to do your own deals and you do not want to expose your investors to other operators then you need to create a fund of funds.

But you get the core materials.

By maximizing net operating income now, you are positioning yourself for a stronger refinance when rates drop​.Looking Ahead: The 2026-2027 OpportunityIn my view, 2026-2027 is shaping up to be a critical period for the real estate market.

I never scaled beyond a one-person operation but was doing an average of just under two deals per month over the course of about three years before I shut it down to focus on more passive opportunities and partnerships.