For the second property, I would expect to have to put money into it in some fashion.

A year into my multifamily journey everything changed.

It also is helpful to have a California LLC in case you ever sell that property and move into another state so that you do not need to form a new LLC altogether with new operating agreement, just re-register in the new state as a new foreign LLC.

I was actually googling and saw this post pop up about safeguard so I figured I would jump into the conversation.

Staying ahead of the game by understanding how local regulations align with state bills like SB-9, SB-684, and SB-423 can open doors to exciting development projects.SB-9: Simplifying Lot Splits and Duplex BuildsSB-9 streamlines the process for lot splits and duplex construction, offering a straightforward way to increase property value and expand housing options.SB-684: More Flexibility for Smaller ProjectsFor urban lots under 5 acres, SB-684 makes it easier to pursue smaller housing developments, transforming overlooked properties and vacant lots into productive investments.SB-423: Faster Approvals, Fewer HeadachesNo one likes endless waiting.

Definitely something I want to look into.

I'm curious to dive deeper into the Santa Fe market and would love to learn from those with local experience.

I helped an investor get into a 3 bed 2 bath , 3 bed 2 bath duplex for 105k - each side is leased for 1250.  

B class will be basically break even maybe slightly positive cash flow on a good deal with your typical 20% down payment and financing the rest with todays interest rates. 

Or take a break.