We are based in San Francisco, so we wanted to use a turnkey company to find us property out-of-state. 

There's still opportunity in San Diego in the MF space, you just have to think creatively about adding value to the property.

Looking at a few units in SF, housing is just insane here, I don't think theres any realistic way I could find a deal that cash flows so I started looking out of state. 

I bought a home in San antonio for 125K and sold it for 180K in 2 years!   

In spending a few hours on Zillow, I've found a few neighborhoods in Dallas (and some in San Antonio) that meet that criteria.

I hope to have something more interesting to talk about in the near future as I get my wholesaling business off the ground in San Diego. 

I also live in San Diego (born and raised) and couldn't make it work here. 

@Alicia Johnson If you need recommendations for CPAs in So Cal, let me know as I know several in San Diego.

Bottom line: You want the protection of the law, you probably ought to follow the law.Some Asset Protection Salesmen offer to use trusts to help you hide your foreign LLC from the state where it does business – especially if the state is California (they have insane annual fees for LLC’s).

That is insane to have a property with an eviction once a year!!!