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.

They have been managing fine, although not too busy, I guess because of the market.

But 2025 offers other opportunities that did not exist 10 or even 5 years ago - think AI and online businesses.

Both from how you want to structure your rental property business and how to handle things from a tax perspective. 

•Business Cards & Branding: You can list both services, but if you want to avoid overwhelming potential clients, consider having two versions—one focused on PM and one on real estate sales, depending on who you’re targeting.Best Way to Generate Property Management Leads1.Target Landlords Where They Need You Most•Most landlords seek out PM services when they’re in trouble—tenants not paying, evictions, property damage, etc.

It makes lead management way more efficient since they get to focus on people who actually want to do business. 

@Chad CutshallI can't answer for them, but their website doesn't indicate that buying/reselling notes is part of their business model.

They have median household incomes of 52k and 55k respectively.

I made a few thousand less than expected but I figure that's just the cost of doing business sometimes.Based on my experience I wouldn't let the remote possibility that a homeowner might go into greed mode dissuade you from doing these deals.

Having trusted resources in market have been helpful in managing our properties and contractors especially when my non-real estate related consulting business is in its busy season.