The IRS doesn't trust you to report accurate information, so the 1099 from the property manager is checked against your filing.Any company that does more than $600 in business with you should issue a 1099.

Make sure you do business with people you have vetted and are confident they will get the job done. 

yes, its a people business.

Operating within California means you’ll need to register any LLC conducting business in the state, regardless of where it’s formed.

Also, construction is in all time low, so that factors into the need for rental properties. 

But I'll mind my own business now. 

Maybe the owner of a plumbing business. 

It separates your personal assets from your business, providing a safeguard if any legal issues arise related to tenants or the property.

Your job, your savings, sounds like you have a supportive dad, you live in a place you evidently love, you’ve had exposure to the business.

I've never seen such a mismanaged business.