Separate LLC per Property: Maximizes liability protection but adds complexity and costs with individual tax filings.3.

Also, for a general partnership, how do we report the taxes.

Not sure what the interior will look like, but hopefully you have photos of prior to occupancy, so that you will be able to claim against their security deposit, and a judgement for past due rents and any damages

@Nakul PatelCalifornia is generally more cumbersome than other states when it comes to taxes and filings.

I get the tax benefit of rentals and more liquidity of lending.

It was our primary a few years ago and we decided to sell so we could escape the capital gains tax.

Before doing anything get tax and legal guidance

We will continue to have an influx of transplants from high tax, high regulation states like CA and NY. 

Last two loans I did they did an Mai at no charge and they forgot a floor plan and had to get a one off for that one and no charge.. only thing we pay for is title insurance and escrow fee and property tax's and transfer tax if any.

When an IRA borrows funds it can lead to a tax called UDFI (Unrelated Debt Financed Income Tax).