Operating your rental like a business is mandatory to protect you, your ROI, and your property.Hope this helps...

The GC is a business person who doesn't care about your ARV, LTV, or your budget.

Thank you so much for taking the time out of your busy schedule to post this. 

Their business still needs to grow up. 

So, yes, you can absolutely have a great rental business as an out of state ( and even international ) investor, as long as you have a solid team that are your boots on the ground. 

It’s a bit intimidating since it’s outside my usual scope of business, but I’m committed to taking the time to learn how to be an effective landlord.

I only pay for BP leads and all other business comes from my sphere/referrals. 

Keep personal and business finances separate to create less headache.You should also do the following to make your bookkeeping easier:- File all receipts in a dedicated Google Drive folder.

It's been so bad here, that I bought an STR in Indiana with another business partner in 2024 because there are minimal opportunities here - unless you have the ability and budget to extensively source off market properties here.  

California needs businesses to start putting a lot of pressure on it.