The goal should always be to create real, meaningful value in every interaction.In the realm of residential property management, this value comes in many forms.

I'd just make sure you have 2-4 unit properties that are superior that were not already used in the previous report and are in some way more comparable (closing in proximity or date of sale etc) Thank you for the detailed response I thought this was the case.

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.

If so, would you be willing to provide the details of the sale?

FNMA does have limited allowances if the LLC is whole owned by the borrower. https://servicing-guide.fanniemae.com/svc/d1-4.1-02/allowabl...There's really only three reasons to put your SFR properties under an LLC:1) A DSCR lender requires it: just setup the LLC correctly.2) Anonymity: In Michigan, you can create an LLC with a Registered Agent and use their address to hide your ownership. - Have seen many investors create their own LLC and use their name & address:(- Only works if you put a property in LLC when you purchase.

The other applicant had a bankruptcy in 2021 and has active trade lines (I can’t see the detail on when these went into collections). 

I would get more details on the numbers and go through it with an experienced investor. 23% expense ratio is laughable for any apartment building, let alone an old class c product.

@Saurabh Kukreja you can find a sheet someone's created & shared using this thing called, "Google".

They've gone as far as writing algorithms that pull data points like crime rates, age, median income, number of coffee shops and hundreds of others to create heat maps of where to buy.  

Consult your tax pro for more details or greater clarification, or contact me.