@Ryan Fox  As you've read, there are lots of pros and cons on BP on this subject. 

If any of these are missing or do not reflect the subject property as the primary residence, the county won't approve the legal residence assessment and it's taxed the same as an investment property. 

Real estate is a lonely subject.  

This should eliminate the homeowner (1) selling a property while remaining liable for the note (subject to), (2) tying  up his property with a “buyer” who has no intent to close unless he finds someone to pay a higher price (wholesaler), (3) paying above market rental for an option to buy that can never be exercised (4) purchasing a property from a fix n flipper who did shoddy rehab, (5) purchasing a property with nebulous legal title, (6) contracting for home improvement with a fly by night contractor who then puts a mechanics lien on the property and (7) “listing” with a wholesaler disguised as a Realtor who doesn’t put the home on MLS. 

Any ranking is subjective to begin with.

A cash out refinance is based on LTV, has seasoning requirements, and would be subject to higher rates. 

@Anthony Quint, the 1031 exchange is something you don't have in CA that allows you to sell appreciated real estate in the US and purchase new real estate while indefinitely deferring paying tax on profits.The thing about this for a non US citizen is that you will be subject to a 15% withholding called the FIRPTA withholding tax. 

I am trying to create a 100% pass through legal entity that will not be subject to any taxes or obligations to pay anyone within the entity a salary. 

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.

. #1 and #2 are discussing the pro of the series LLC.I just wanted to give some perspective to the series LLC subject.