Ken, You're changing the subject to something neither of us ever discussed.The only thing you claimed was that having no-debt on a SFR property makes no sense, because of your theory that the government is going to be massively raising taxes on property owners to "oppressive" levels.

BTW connect with me I like to help folks through subject to or seller financing since theirs so many problems one needs to get right.   

I've been buying Subject To for about 30 years now and I've had two DOS called.

I currently own a 3-unit multifamily property, and I’m actively looking to expand my portfolio while building meaningful connections with like-minded investors in CT.I’m particularly interested in:Wholesalers: If you’ve got off-market deals, I’d love to hear from you.Creative Financing Opportunities: Subject-to deals and seller financing are right up my alley.Networking and Partnerships: I’m eager to collaborate with other investors who share a passion for creative deal-making and scaling our businesses together.Whether you’re an experienced investor, just starting out, or anywhere in between, let’s connect!

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

In my mind the partner who contributes and shares across the board will have a greater alignment of interests but curious how others have approached similar scenarios and views on the subject.

Best neighborhood and best assets are subjective and largely based on the individuals capabilities (balance sheet, skill set, time etc.)

Use umbrella insurance as an additional safeguard, especially if you opt not to form an LLC.Avoid S-Corp taxation for rentals, as rental income is passive and not subject to self-employment tax.

@Brad Kanouse,I believe this is a duplicate of this post:https://www.biggerpockets.com/forums/311/topics/1210256-usin...But regardless, here is my answer:If you take a distribution from an IRA - it will be subject to taxes and penalties.You can convert your IRA into a "Self-directed IRA" and have the IRA buy the property, in this case you are not the owner, the IRA is.

So permits are not relevant to the subject of this thread for my jurisdictionNot sure if there are jurisdictions that require permits for cabinets or counters but if there is, I suspect the motivation is the fees collected for the permits.So permits SHOULD be irrelevant on this thread.best wishes