If you are a smaller check writer, it’s still important to conduct adequate diligence on the deal and the GP but there shouldn’t be any alarm signals going off solely related to the investment minimums. 

Disclosure: I have only done this with MFR properties but according to the state it should be acceptable with SFR property as long as you claim holding it solely for investment and not your personal residence as you would already get a better deal.A few other slight perks of SC compared to some other states is the taxable value is not retroactively applied. 

I was  in your shoes.

When choosing an investment city, don't rely solely on simple return calculations; consider all major recurring costs.

@Kevin V. if I were in your shoes I would fix up the Carlsbad house and keep it as a short term rental that would still give you the freedom to use the property and keep it in the family while maximizing the rents you could get. 

Partnering with well capitalized builders will help as well because they can maneuver through a job without solely being reliant on your draws.

I am the sole manager of the LLC fwiw. 

I’ve given food to hungry people, I’ve given the shirt off my back to an old naked woman, I've bought shoes for kids, built a school for aboriginal tribal families in the mountains, and handed out toothbrushes.  

Hey @Michael Baum what about buying a couple snowmobiles, making an ice rink, buy some snow shoes , fireplace …voilà the ultimate winter vacation spot for your “Offseason “(snowmobile  is expensive I know ) 

Wondering if anyone has converted their multimember LLC down to a sole member LLC and what the process is, all I have found on it is to fill out form 8832.