Quote from @Fareen E.: The available/start date is the day the unit is ready for a tenant to occupy.

Assuming it will be Single Member LLC (you as a member/manager), it will come back on your schedule E anyway, so only thing you loose is $800 in california and bit more of paperwork but that preps you for future.Note - this is a very high level advise and mostly a personal preference. 

No idea if it is accurate or if anything has changed since then, but it indicated the following:PROGRAM 1 Owner use up to 2 weeks 50% of Adjusted Gross Standard FF&E in high season & 2 weeks Revenues from the Unit and accessory in low season package required.

The LLC is a pass through entity and will show up on your personal Schedule E and once the property shows up on the LLC, the debt (that probably won't show on your personal credit report) will be included in your total debt. 

I would assume your brokerage would not be able to afford to pay for the E/O it would cost you Most E&O policies will pay out 0%, or cancel altogether if 25% of the transactions are dual agency.

For me personally, I chose Reno because I wanted to be close to Northern CA (where I have family), I love the outdoors and being close to Lake Tahoe, and all of the underlying tech and manufacturing jobs coming into the area, coupled with land constraints juicing appreciation here. 

For example for the E 18th property, here is the Income tab.

Instead of buying trips or hotels for ordinary point values, learn how to increase the value of your points and stretch your dollar farther.It's an inexpensive e-book.

Headache of being landlord is done too.Option E: Sell property to tenant under contract. 

E-mail with details has been sent your way.Also, thank you @Jonathan Greene for helping to point this to the right person for assistance.