Don't make your life more complicated than it has to be.

But you also mention "Compare being able to write off the $370,000 today versus having to depreciate it over the life of the asset - 39 years - that’s quite a difference!"

There were at least 4 maybe 5 individuals on Dave’s team that handled numerous things like; getting any necessary info from me and the title company, providing my account statement (proof of funds) for the sellers of my replacement, working with ERG for the exchange documents I needed to sign for both closings, and getting the 45-day form filled out and sent back to ERG.

I remember my first Airbnb in Denver 11 years ago in my basement studio (different life).

Washington continued with land acquisition and development through most of his life, with two exceptions, both of eight year duration.  

Since you can't escape CA LLC registration, if the property is based here, and if you are a resident here, may make sense just to form a CA LLC and simplify your life and your costs.Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

Sorry Katie, nothing personal, I'm sure you're a wonderful person in real life, but by tying up this sellers property for 90 days with no buyer and no plan to legally sell the property for them, you could end up putting the seller in a worse position than they'd be in without your involvement.

For instance; depending on the price range of the unit, people may be buying a place to call home; or they may be buying a sense of security that is economically stabe and affordable; or they may be buying, in the case of a luxury rental, prestige and a sense of accomplishment in life.

If this is true, we can see more businesses returning to cities, more attractions and night life for those living and working there.

Why would you want someone learning on your dime on what might be the largest investment of your life to date?