When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or refund the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account designated explicitly for future investments.

I have heard good things about Ohio, Indiana, etc.5 - Due to high interest rates flipping has become highly risky and most businesses have dried up.6 - Co-living and Assisted living seems to be popular right now.So - really depends on your market, your strategy, and your timeline.

True although the fires this year just adds to the reasons to leave California (excessive taxation and regulation, overbearing political correctness, downtowns littered with feces, etc.).

As a result, we have significant water damage to the floor and rugs in that 2nd floor bathroom and a bedroom, plus there is even more significant damage to ceilings, walls, furniture, and rugs to 2 bedrooms on the first floor.Our initial goal is to dry as much water as possible with wet-vacs and dehumidifiers.

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

I find that putting a utility cap in the lease agreement they sign and calling their attention to it really helps make them more aware that they'll have to pay for excess usage so, fortunately, I haven't had to actually bill anyone yet, but the language is there if I needed to. 

They seem to like the dry of the desert rather than the moist of So TX, and FL. 

But again, your profit after selling costs (and any capex improvements) would have to be in excess of $60ok to really make sense.

The least states:"Tenant shall pay a "late charge" not in excess of five (5%) percent of the amount in arrears for each month the arrears remain unpaid if any Rent is paid more than ten (10) days after the due date thereof, to cover the extra expense involved in handling delinquent payments.

The issue we are running into is that lenders are not recognizing the excess amount he earns as income, therefore it looks like he will not be able to afford any loans that he would be approved for.