Once renovations are complete, carefully screen tenants, set clear house rules, and consider furnishing the units with utilities included to attract reliable renters.

Alternatively, happy to be a resource should you need help identifying opportunities and analyzing deals. 

However, long story short, yes there is, although I would recommend finding an advisor who is skilled in holistic financial planning that includes not just traditional stock market investments or real estate investments exclusively, but all investment strategies to help in your specific goals.In general though, you can either find a fee-only CFP that has expertise in real estate and other alternative investments, or you can find an advisor who is at the very least willing to have a conversation free of charge prior to any actual investments so they can give you a very good idea of whether they would be able to help you prior to beginning a relationship.

However, you can claim a tax credit on your California return for taxes paid to Oregon, mitigating double taxation.If you only plan to own this one property, consider using umbrella insurance as an alternative to an LLC.

But I have to ask, is this unit attracting this kind of tenant? 

Trying to get into the nuts and bolts of how he was trying to source a location, project size of preference, what type of financial modeling he does, what kind of tenants he was hoping to attract/the strategy behind it, if he was doing any joint ventures or had done any in the past, if he had taken part in any syndications, what management strategies he was implementing with his current properties to maximize lease uptime and profit, what types of leases he generally favored contracting for his properties--all of that was like pulling teeth.

The promise of accelerated depreciation and immediate tax savings is attractive.

Alternatively, if you’re using QuickBooks Online with a plan that includes the "Payments" feature, you can collect rent directly through QuickBooks while staying on top of your bookkeeping

The best strategy is a well diversified one and using great copy to attract the guests you want!

From my experience working with over 400 investors, consider alternative strategies like rent-by-the-room, buying an SFH with an ADU, or renting where you live while investing elsewhere.