Depending on comfort and cash, it might be a viable option as you can build equity and then sell without having capital gains, assuming it's your primary residence and you've lived there for 2 years.

I am most comfortable with long-term rentals, but I would like to try a flip or two to build my capital.

For your GA LLC, filing correctly is crucial since you're based in CA and may need to handle multi-state tax filings.A real estate tax accountant can guide you on deducting renovation costs (likely capitalized rather than expensed for a flip), managing depreciation for investment properties, and tracking expenses related to your flip.

Spread your capital over 2 or 3 deals, 2 or 3 operators.

@Steve EnglehartTapping into your Roth IRA or IRA for a short-term rental can be tempting, but the penalties and taxes could eat into your investment capital.

Quote from @Derek Stevens: @Michael Baum My initial question was about determining a sale price not raising capital.

I’m getting ready to make my next move in 2025 and I’m contemplating on staying here and buying a multi family property as an investment out of state (only an hour away) which would be a lot less capital and have a lot more land lord friendly laws or buy another multifamily as a primary residence locally and hack that property I’m single and live alone.

It would be helpful to me at this time, to have about $25K in working capital for work on one of my multi-family properties.

The process must be understood and applied to team building, investing your and 3rd party capital, and financial deal structure with debt and equity sources. 

They have plenty of capital and just looking to park cash while diversifying.