Irrespective, the income every property produces will be considered by any lender if you are using a loan...so, it is important to know what your units are renting for and what your expenses are.There is a benefit to super-analyzing small MF properties like this...you get practice for your future analysis of hundreds of properties and a successful career in the industry as you scale.

We have sufficient passive income in which to utilize the passive losses that are generated by this real estate investment.I’m already capped on interest rate deductibility and property taxes as a result of my primary residence.Questions: Since the FTB in California will charge an $800 annual fee for being a member of a LLC irrespective of whether it is an in-state or out-of-state LLC, seems like it would be easier just to form the LLC in CA?

a dysfunctional HOA in our country is a HUGE Red FLAG  ... irrespective of the  ( is it a good deal for cash flow equestion)

Here's what I'm coming up with so far for CapEx, irrespective of property type/class:Roof - 1,000 sq ft; replacement cost per sq. ft. $7 ($7,000 total); Useful life 20 years (240 months) = monthly roof CapEx accrual ($7000/240) = (a) $29.17 Water Heater - replacement cost of $1,000; Useful life 10 years (120 months) = monthly water heater CapEx accrual ($1000/120) = (b) $8.33Kitchen Appliances - replacement cost of $1,000; Useful life 10 years (120 months) = monthly kitchen appliances CapEx accrual ($1000/120) = (c) $8.33Driveway/Parking Lot - replacement cost $5,000; Useful life 50 years (600 months) = monthly driveway/parking lot CapEx ($5,000/600) = (d) $8.33HVAC - replacement cost $3,000; Useful life 10 years (120 months) = monthly HVAC CapEx ($3000/120) = (e) $25Flooring - replacement cost $2,000; Useful life 5 years (60 months) = monthly flooring CapEx ($2,000/60) = (f) $33.33Plumbing - replacement cost $3,000; useful life 30 years (360 months) = monthly plumbing CapEx ($3,000/360) = (g) $8.33Windows - replacement cost $5,000; useful life 30 years (360 months) = monthly windows CapEx ($5,000/360) = (h) $13.89Paint - replacement cost $2,500; useful life 5 years (60 months) = monthly paint CapEx ($2,500/60) = (i) $41.67Cabinets/Counters - replacement cost $3,000; useful life 20 years (240 months) = monthly cabinets/counters CapEx ($3,000/240) = (j) $12.50Structure (foundation/framing) - replacement cost $10,000; useful life 50 years (600 months) = monthly structure CapEx ($10,000/600) = (k) $16.67Components (garage door, etc) - replacement cost $1,000; useful life 10 years (120 months) = monthly component CapEx ($1,000/120) = (l) $8.33Landscaping - replacement cost $1,000useful life 10 years (120 months) = monthly landscaping CapEx ($1,000/120) = (m) $8.33Sum of (a) through (m) = apx $214/mo for my CapEx accrual - Does my approach make sense and does it seem reasonable?

My understanding is that my (or, more properly, CHECKBOOK IRA's) half of the rental profit would go back into CHECKBOOK LLC tax-free, irrespective of whether my partner's position is a non-qualified personal position or via his 401K.Beyond the tax implications, where I am fuzzy is this.

You can always make money in real estate if you choose the right property in the right market irrespective of the credit cycle.

Customers irrespective would like to have the due diligence done in 95% of the cases these days.  

Coupled with the fact that all mortgage terms here are <=10yrs - with 5yrs being the most common term - a variable rate mortgage is typically a full percentage (1.0) or more lower than a fixed-rate mortgage of the same term.If the vendor agrees to carry 100%, then you can create your own loan terms (within financial compliance) irrespective of what conventional lenders offer  - say 5-yr, interest only - or interest only regular payments with a 5% principal repayment requirement per year - at a fixed rate of 5%.

VA can be a great option for that strategy - great financing and live in it at a station and then rent it out when you move (though you can only have 2 active VA financed properties at a time, irrespective of the VA loan limit).Speaking of which, there are no multifamilies in the area for over $417k anyway.  

While that might be smart in some situations- where the payment could suddenly go up irrespective of income- but in this situation, the payment won't go up until my income goes up- it is crazy.