My two cents:I tried for 6 months to find something worth investing that would not become a liability for me in California.

Just have enough liability insurance!

I know from experience how expensive water damage on a 2nd story can be, and the liabilities associated.

They are basically opposites.While I am guessing the pool is common in TX, just remember that its another significant liability when having a rental.I guess the other aspect is to you really want to be a landlord? 

You will need to insure the building improvements and you will want general liability coverage.

Thanks to the Cost Segregation Study, the property investors were able to reclassify the property components and accelerate their depreciation for a total of $356,000 in the first year.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

Discussing potential profit splits & what happens in a loss situation, liability, stalemates on decisions etc. are valuable topics to discuss.

Chris Prefontaine secretly records calls of home sellers without them knowing in multiply States and PRETENDS to be a home buyer from PrePropertySolutions on behalf of his students, who have a completely separate LLC's, so that Chris Prefontaine has zero liability! 

I understand the money reasons, but it's the liability reasons.

It's a good idea to talk to legal and financial experts about taxes, insurance, liability, rental agreements, and managing your finances.