I plan on renting a unit and probably getting a roommate or two in my unit to maximize cash flow early on.

Unless you revise your plan and ensure that your personal use is under 10% of the rental use.

Happy to chat and get a game plan in place for you or answer any other questions you might have.

@Matthew McleanBigger Pockets is a great place to find an accountant specializing in real estate taxation.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

The first thing I ask is why am I Buying the property.I always look at the exit strategy first, is it going to be a rental, a lease option sell, am I planning on living in it.

Would love to learn more about this flipping plan you have and get you connected with anyone you may not already have on your team.

Their entire business plan is wait a few days to come out, charge  deductible, go back to the office to order a part or two that will come in a day or two.

We have a development coming up for approval with the county adding over 100 units bordering our small town and you can bet everyone that lives in our town is upset about it. in the end though, the planning commissions in our area tend to follow the letter of the law so to speak, so if there is nothing in ordinance barring it, they will approve, generally.

And also that rates are just going to continue to be an issue, so it's likely something to plan for in rent rates and/or overall investment costs. 

This would apply to your unit.Your biggest concern with setting the rent should be the near future. 1) Your insurance is guaranteed to go up, probably dramatically.  2) You may get an insurance assessment bill to cover the CA Fair Plan losses.