CA requires $800 LLC annual fee, which makes it prohibitive to have multiple LLCs.

The kind I do not like are passed on from their parents who never learned to work so they expect you take care of them.There are some restrictions and annual inspection most have to do with safety(railing), smoke alarms, and sanitation....

Unless my tenants are burning down their apartments annually, I can't imagine that figure being accurate.Our expenses in the JP 4plex honestly don't exceed $700 a month, if that.Does this rule maybe only apply to areas where rent isn't as high as Boston?

Even though the money from Section 8 is guaranteed, there are still inspections annually and you stiull may chase the portions that the tenants owe.

I was responding to the gentlemen that said he would like something to use in Hawaii.. you can buy weeks in Hawaii on the secondary market for as little at 1 to 2k for a week.. then annual fee is like 400 to 600.. so if you score the right ones.. could be a cheap way to have a place there to go to when you want.. 

The deal he's offering is that I cover the entire cost of the 5% down deposit and renovation cost (closing, miscellaneous, etc.) and in return, we each pull 12k annually.

This, of course, leads to corruption and the non-payment issue and then the annual tax auctions where you can buy these lovely gems for $500.   

I've run these numbers and it seems like we would only add about $20k to our annual passive income.

@Mariah Sanchez7 percent interest is charged annually on the principle with repayment (amortization schedule of 30 years).

Propane burns cleaner and usually the annual service is cheaper and easier....although not always.