There are new laws affecting California transactions in 2024, some of which are very relevant to investors and house flippers.According to the California Association of Realtors, starting July 1, 2024 most 1-4 unit properties that are resold within 18 months (aka flips) must disclose:- repairs, renovations, room additions and structural modifications that were performed by a contractor with whom the seller entered into a contract- the name and any contact info for the contractor for any work over $500- any permits obtainedSo you still can be an HGTV star, just make sure you do it by the book. :)Have any of you flipping in the Los Angeles area been affected by these new disclosures?

They can only provide a general liability-only policy through Lloyd's, which doesn't cover the physical structure or contents.If anyone knows of a good insurance provider that offers comprehensive coverage, including protection for the structure itself, I would greatly appreciate your recommendations.

This includes hiring an inspector to check for structural problems, arranging for a pest inspection, and getting a professional appraisal to ensure the property's value matches the bank's asking price.

I have an LLC structure, but I own a rental held in my personal name. 

I’m going to begin moving to a 60% real estate concentration.Wondering how others have their investments structured.  

I think the one DETACHED 2 bed 2 bath ADU that is being built off a converted garage + extension is perfectly OK and there is no question there.I think the grey area is around how you go about turning a 5 bed 3 bath existing living unit that is currently the downstairs of the main structure, into 2 2 bed 2 bath units, one of which is classified as a main unit and the other classified as a ATTACHED ADU.I have heard there are some rules disallowing converting existing living space into ADUs that may make this difficult.

Awesome to hear how you have your structure set up @Shannon Mogilinski, it's quite obvious that you all are dialed in on your proccess - I love it!

There's lots of tax planning on this and I would suggest to take a professional opinion on how to structure a transaction in a way that you can make it into capital gain tax or reduce self-employment tax.

The structure of the transaction is much more important than is generally recognized.  

As Greg noted, there is a lot that I would want to be crystal clear on with how it is structured, how you can remove yourself, if needed, how you can change management or sell.