It also is helpful to have a California LLC in case you ever sell that property and move into another state so that you do not need to form a new LLC altogether with new operating agreement, just re-register in the new state as a new foreign LLC.

I have an off-market deal that seems fairly promising to be mine—wanted to reach out and get opinions on the rental market there.

Tell me what you use, why you use it, the scale or size of your operation and what’s the most important feature that this CRM has that sets it apart from the competition?

Going in guns blazing in tenant friendly state (like mine) could see end up with months and months of lost rent.It is a people business, so you will have to use some discretion.

Nothing is the top niche because it's highly dependent on what you are interested in, who you know in that class, what your goals are, and how much money you have to invest in your education and/or assets.In general, no one new to investing should start with mobile home parks just from an operations and capital standpoint.

Now, you've "evolved" yourself in things where your no longer involved in the operations or the operational expenses.

I started with flipping properties, then started doing direct-to-seller marketing, and transitioned our operation to wholesaling only.

At the same time, housing operators are havingto repair damaged units while insurance costs spiral ever higher.Thebottom line: Revenues are falling while expenses are rising.Thereare no quick remedies.

So, when you replace something and make it bigger, better, or last longer, it’s categorized as CapEx.On the other hand, repairs are generally routine maintenance tasks that keep the property in its ordinary operating condition.

Engelo is a personal friend of mine.