Step 2- close and start rehab-- would need to pay holding cost during rehab?

You can build your own team i.e. title co, insurance, pm, contractors, handyman,process server, lender etc.... or you can find an operator who can get you going in that market while simultaneously building out your team.Section 8 housing is a great way to ensure consistency with rent payments however not all tenant who have HCV pay 0%.

I can sell it at any time for a profit, so I'm hoping to let it run and pay for itself for a while before we make another decision on it.

Yes, we will have a loss for 2024.Then it should be easy enough to have your attorney just change it and pay any required taxes/fees.

Section 8 refers to a voucher that some people use to pay for their housing.

We pay $850 for a WH install, so, that seems high but you are in CA.

The LLC is irrelevant unless you are paying cash or getting a DSCR loan.

And I would love some passive income or at least someone to pay my mortgage until we can pay it off maybe.

The training is pretty thorough focused on lending hard/private money to other fix and flip investors, or for my own deals for which I could pay myself as the loan broker.

Then he is going to hire subcontractors to do the job and you are going to pay them for that work as well.