And, I can benefit from amortization and appreciation over the long term.Best of all, my investment is inflation-protected: As overall prices go up, so do my rents and my property values.Your HYSA simply can't compete with a quality rental property investment.

I prefer to stay in mostly owner occupied areas because it yields a higher quality resident that's more consistent over time and the homes typically appreciate at a faster pace. 

Was it a market based decision or a quality of life one?

One thing to consider is where you are purchasing and the quality of the home. 

It will cost you approx $1.5 mil to build a quality house like you describe.....maybe moreAnd your developer is not a GC, you need a good GC to work with you.....no way you can do this yourself either.

@J Shoe I will start by saying consult with a personal attorney and CPA (and have them work together.)Typically people buy in an LLC just to keep their name off the record and for asset protection and operation agreements.As a sole investor a lot of people will buy in their personal name so they can more easily obtain quality financing, and then move the asset into the LLC.A lot of people of California use trusts (DSTs) to hold the asset, so they are not contributing to the problem of over taxation in CA, as CA has a franchise filing fee of $800 every year for each LLC.Just some things to think about, but find the professionals that can tailor a system for you personally.Cheers

I know personal letters would take more time and cost more money, but I would rather send out less of higher quality then more at lower quality.Having said all of that I would recommend that you tell everyone you interact with that you are a real estate investor and tell them what kind of properties you buy.

They're known for providing quality service at fair prices, and they might be able to give you a better quote than what you've currently received.

Typically, the seller wants it done fast and cheap, which often does not equate to the quality you would look for as the owner.But, it is possible he wants to do the work because he has top quality contractors that will do the work well and for less money than you could yourself.  

On the other hand  If you know the markets that are more favorable and attract high qualities tenants land lording can be very easy with little to no worries.