You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.

We're exploring creative ways to provide him with the cash needed for the down payment while avoiding triggering a taxable event.One strategy we're considering is purchasing his future primary residence ourselves, making the mortgage payments, and then, once we've built enough equity—comparable to the appraised value of his rental properties—transferring the title to him as a form of exchange.What are your thoughts on this approach?

And @Michael Plaks is correct that setting up in GA didn't avoid the CA LLC fee. 

I don’t need to invest in foreign real estate etc, and I’m not looking for tax avoidance.

It is not Real Estate driven although many of the members are in Real Estate in different aspects.

Of course, there is the lifestyle aspect.

You can avoid costly mistakes. 

I would recommend fixing it yourself to avoid any liability from the tenant and then try to get the HOA to reimburse you.

You think that in the event of a liability lawsuit, a landlord will be able to avoid notice of loss to their insurance by defending themselves with the coverage provided by the tenants renters insurance? 

Otherwise, probably not as they know they can get out of a significant debt by running from and avoiding it and have shown they will do that.