CA has the highest sales tax rate in the country.

Everything worked out okay but we received advice from our CPA after forming our LLC that we should have structured things differently but by the time we met with him it was already done. 

Are inspections needed before and after the work?

Then take the 400k - 275k = 125k (that you will net from the sale) - invest a portion of it in your S&P 500 tracker.

Purchase price: $255,000 Cash invested: $100 Sale price: $260,000 How did you find this deal and how did you negotiate it?

This is after covering all expenses and setting aside a certain amount for reserves to cover future expenses like capex or vacancy. 

You' just make negative comments in hopes of someone using YOUR services.

Purchase price: $255,000 Cash invested: $100 Sale price: $260,000 3 /1 894 sqft What made you interested in investing in this type of deal?

After reflecting on a strategy someone used to buy 15 short-term rentals off-market in just 12 months, I thought of an idea.

After closing costs, it was about $107K.