The last house I sold was last year before the ruling.You are not allowed to mention compemsation of a Buyer Agent anywhere in the listing (according to the warnings) and to do so owill result in fines imposed by the MLS.

My average fill up is 50 kilowatts so that  $2.00  Two bucks for 200 miles of range with no restriction on speed or fast starts at the line :)  Not every state is the same at our place in Vegas you pay one rate no matter what time of day and that is I think about 12 Cents a kilowat so about 7 bucks to fill up for 200 miles of range. lets say 20 MPG at 3 bucks  thats 30bucks for gas for same range.

If any place has HOA/POA I would be very careful with those restrictions and talk to plenty of people including every board member before buying about their views on STR. 

There are some restrictions so I would encourage you to look into it to see if eligibility applies.

Several things to consider: 1) One of the main purposes of segmenting your assets into separate LLC's is so that your personal net worth or equity in other business ventures or properties isn't exposed, so unless you have a high net worth or a lot of equity in a property, it might not be worth bothering going the separate LLC route, especially when it restricts your financing of the property.  2) Most any commercial financing you get from a local bank for a small property is going to have recourse anyhow and require that you sign a personal guarantee, so you're still personally on the hook to the bank even in the case of a commercial loan.  3) If you're a newer investor and buying a deal that's tight on cash flow, or if you don't have a ton of cash sitting in the bank already, your greatest risk factor as an investor is your investment failing economically due to poor financing terms or not operating the investment properly, not because you get sued. 

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

Also, consider the potential for appreciation and rental restrictions, as some HOAs have rules that might limit leasing later on.Given your $20k starting point, a condo could work well as your first step into real estate, especially if you focus on one with a manageable HOA fee and potential for appreciation.

Staying local would make capital the limiting factor where my restrictions out of state would be additional research.

Normally, unless there are specific building code restrictions, the amount of units allowed on a lot is determined by the Floor Area Ratio. 

Using a Self-Directed IRA (SDIRA) allows pre-tax dollars to grow tax-deferred in real estate, but limits flexibility due to IRS rules and potential UBIT on leveraged properties.Investing through a Roth IRA offers tax-free growth and no RMDs, but funding limits and restrictions apply.