According to the brokerage and agent, these individuals either weren’t serious or claimed they didn’t realize the property was occupied, even though it was clearly stated in the listing.I’m not particularly concerned about the property’s condition or the eviction process, as I’ve already secured some level of cooperation and have basic access to the basement.

If I was the owner I would be asking why is it not published in the NY times, or other publications that have high net worth individuals.

For existing companies, individuals who own at least 25% of the entity or exercise substantial control over it must submit BOIR to the Financial Crimes Enforcement Network (FinCEN) by December 31, 2024.

At the same time, I prefer to minimize liability, though I’m not a seasoned investor.Is this one of those calculated risks that investors eventually become comfortable with, or should I prioritize limiting liability from the outset?

Since I am new to this space, I would prefer to have as safe of an investment as possible then graduate to the more sophisticated. 

As an individual with an FHA loanI appreciate any additional guidance you all have for me.Thanks! 

If it's a single member LLC then they prefer to have an officer sign, which would be you and your legal name.

If not, you can always increase the rent to market value, but my guess is it being California, there are limits to rent increases.There are rent caps but they do not apply to single family homes owned by individuals (not LLCs or Corps) 

If I were to go this route I would clearly identify each of these risks individually, understand how the Govt would potentially challenge each of them and then assess in your particular fact pattern how you would effectively rebut a challenge to each. 

My attorney says he prefers it when there is a business reason for the state of the LLC, and he said either your home state or where the property is located is suitable.A much bigger topic is whether or not having an LLC is a good strategy given your personal situation.