Purchase price: $285,000 Cash invested: $40,000 purchase Price $285kRenovation Cost $40k (on budget)Renovation Time: 41 daysARV: $425kFeature sheet: https://drive.google.com/file/d/1PMMTCmYptc1Jiy14MgAImJyiiEonebQl/view?

The main difference is that you can't deduct the principal portion of your mortgage payment (even though it affects cash) but you can deduct depreciation (even though it doesn't affect cash). 

Please adviseRegards I would file a claim an insurance claim right away.

@Irene GustaitisCalifornia is generally more cumbersome than other states when it comes to taxes and filings.

I have one in PA and was able to complete the paperwork myself and file/register with the state.

Now they are paying $2,866/month in principal and interest. 

So many dont file tax returns and if they do, its through non English speaking connections so its a dude.

Series LLC, with its lack of filed Articles for the Cells is often a problem. 

You served her with 3 day notice, now go file with the JP court for that area.You probably need to get the a/c fixed also.

Having an LLC in that state may simplify compliance with local regulations, tax filings, and property management.