If the LLC and its income are entirely outside California, it typically does not require registration with the California Secretary of State (SOS) or payment of California Franchise Tax Board (FTB) fees, even if you reside in California.

They call it a fee, but it's effectively 22 percent interest.Any experience with them or thoughts in general?

Vacant properties can sometimes be the way to go because you can try and get top market rent, as well as include any fees or protocols that might not be in a standard lease.  

The unit is part of a condo association for which we pay fees.

Buying the land right (at a good price) will determine the end result of cash flow (if building the home to keep) especially as you factor in Holding costs and Builder fees. 

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Connecting a buyer and seller together for a fee is brokering.

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@Frank HinckI’m trying to understand the cost of fees, interest, points, as well as holding cost associated to the deal.

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?