The lessons you learned the hard way in 2008 will be invaluable now, and it’s great that you’re aiming to stay small-scale and within your comfort zone of Sacramento, which gives you an advantage of knowledge in that market.Given your experience, I'd say start by focusing on three key areas to build confidence and minimize risks:Budget Control: Over-renovating was one of the big mistakes you mentioned.

Start laying blocks Monday.  

I’d love your insights on how best to utilize my LLC in this process.

Quote from @Sami Gren: I start by making the original tenant fill out a form requesting to add a new renter, and they pay me a $50 processing fee (I charge a $50 fee any time I make changes to an existing lease). 

What books would you recommend for someone who’s just starting out?

@Jason Wray Thank you very much for this response ..I’ve never sold one of my rentals before feels like I’m cutting off a leg and paying close to 100k for cap gains is really starting to eat at me 😵‍💫Any chance you would be so kind as to send me a link to something in the ballpark of what you’re suggesting this way I can get an idea of area and what this type of property could look like!

So before I transfer ownership back and start a seasoning period, I thought I would ask if there were any solutions I am not finding.  

this is what Oregon has done starting in July to regulate  the wholesaling activityhttps://www.oregon.gov/rea/newsroom/Pages/2024-OREN-J/Proper...  

Since you just starting to rent it out I would include the down payment and any major repairs you have done.

Hello, we are just starting out our investment journey. we have one STR property and 1 LT property and I want to gain more knowledge of it.