Quote from @Josh Holley: @James Wise I have plenty of money to buy whatever I would like.

so kudos to you.Regardless of when you plan to start your REI (Real Estate Investing) journey I would start building your team so you have them when you are ready, AND ASK THEM QUESTIONSA wise man once said to build your team AKA Core 4.

On a rental that’s not generating income is it any different book keeping wise then you would for a rental that’s is making money Or what are good things to know or learn Thank you !

@James Wise you're right about California's bad leadership. 

I know that anything in California price-wise is far above many parts of the country. 

Hey Santosh,As of right now you're extremely exposed regarding insurance and I'm going to assume legally as well.If the home isn't registered as a legal multi-family with the town that's something you'll have to correct ASAP and make sure the home is up to code.Insurance wise as soon as they find out what you're doing they'll cancel you as the risk has changed from a single family owner occupied home to a multi family owner occupied home.

Quote from @Moojan Namsechi: Quote from @James Wise: Quote from @Hector Espinosa: Hi BiggerPockets Community,I'm a new investor based in San Diego, CA/, exploring the Cleveland, Ohio and Columbus, Ohio market for my first multi-family property investment and would love to get some advice from experienced investors. 

Quote from @Chris Mason: Quote from @James Wise: Quote from @Jay Hinrichs: Quote from @Chris Mason: Indoor shopping malls as they existed in the 1990s are dying, but retail is not.

I want to invest it wisely so that a part of it is used for my living expenses and the remainder invested in RE producing cash flow and appreciating over time.

Quote from @James Wise: Quote from @Chris Seveney: Quote from @Bruce Woodruff: I saw @james wise thread on the fires in general but here are some other thoughts now that this has grown , I think it's important and very interesting...a) What will happen with CA insurance?