(Or you can read my BP blog where I summarize some of the court cases.)Figuring all this out is worthwhile, and I salute you for the asking the questions.

To summarize what I read, figure out how you are going to operate (single member or multiple) and then create the proper LLC.

Your investment has a couple of things hindering it from being the type of purchase that I am a big proponent of (the issues are related) 1) It was bought to be a home and not a good RE investment 2) it is a SFR which in San Diego has to purchased significantly below market to have cash flow.To summarize: 1) selling is a no-brainer 2) you have ~$200K of equity that I assume is largely from appreciation 3) you should look into ways to minimize your taxes and the $250K/$500K exemption is not available to you 4) You are still looking to invest in RE 5) Possibly the best way to minimize your taxes considering item 1 to 4 is via a 1031 exchange.I have never done a 1031 exchange. 

To summarize: the guest is a wholesaler who found - when starting out - that he had some money for marketing, but was quite shy and didn´t have the time to dedicate to meeting with people.

We gave them a written notice summarizing their intent to move out and a break down of the damages and what would be withheld from the security deposit on January 8th and a revised notice again on January 22nd.

The law summarized is: "In detachment lies the wisdom of uncertainty...in the wisdom of uncertainty lies the freedom from our past, from the known, which is the prison of past conditioning.

Now you own the house and they can't take it without compensation.Ask me how I know all of this...this is about $90K in legal fees summarized in a couple of paragraphs

What a creative way to summarize your deal!  

So let me try to summarize my responses.

Voila, the direction of this post is summarized in the title.