@Matt J.As an out-of-state investor in San Diego, key tax and legal considerations include filing a California non-resident tax return for rental income or capital gains, managing double taxation with potential tax credits from your home state, and complying with withholding requirements on property sales.

Meaning if there are partners involved, are you compensating your self for the time you are spending on management?

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

It is 'lost' when investing within a retirement account.2) If the extra rate of return is about 1%-2% it may make sense given all the extra worth involved such as setting up and paying for the SDIRA account and then potentially having to file certain tax forms if your income is subject to Unrelated Business Taxable Income.

The property manager will be involved for years, and they want it to be something easy to manage.

It will say way faster, easier for showings and easier for everyone involved. 

I have a strong network here and know the key players/stakeholders in the community and am trying to learn how I can get involved to make an impact to change the community and restore the existing (beautiful) infrastructure. 

It involves analyzing the real estate cycle and identifying the right moment to buy and sell properties.

When asked what they did, they advised they filed it away.

Had horrible luck making good money without too much time and labor involved.