Consider forming an LLC for liability protection or an S-Corp for tax efficiency if flipping frequently.This post does not create a CPA-Client relationship.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

A business line of credit through your LLC protects personal assets, builds business credit, and may allow interest deductions, but it might be harder to secure for a new LLC.

I would like to see what the local tricks and tips are to protecting ourselves as landlords in California thank you my name is Ryan have a good day

You need to log everything to protect yourself from any liability.Going back to your initial question--price is subjective.

Also assuming your practice is going well, consider talking to asset protection attorneys.

The big thing is always focus on protecting the public, disclose, and take care of people.

This just protects our investment until probate is finished.Get creative with your offers you never know what will interest a seller.Have a conversation and find out their needs if you can before making offers.

(Unfortunately, the investor fell for this gimmick and did NOT get their own 3rd party inspections, appraisals or even visit the properties they were buying, against our best efforts to encourage proper due diligence and follow our check list for their own protection.)So now some people are stuck with properties worth half what they paid (not all RWN members), with no renovation done, and constant repairs and vacancies. 

They are the ones protection your investment.