Some people use their IRA to fund fix and flip's and keep the profit in them tax free. 

Besides lists from the tax assessor, how are you finding your deals?  

If you sell it, you get $250k single / $500k married exemptions from capital gains.Speak with a tax professional about how much you'll save in taxes by doing this. 

Your not correct under many different circumstances.First property tax is 1.1% (fairly safe) with 2% annual increase (prop 13).Next expenses include a lot more than property tax and interest. 

How SB-423 Accelerates Coastal Development: // Faster Permitting ·For projects with 150 units or fewer: - Eligibility Review deadline: 60 days from submittal - Approval deadline, including Design Review: 90 days from submittal · For projects with more than 150 units: - Eligibility Review deadline: 90 days from submittal - Approval deadline, including Design Review: 180 days from submittal · No public hearings or environmental impact reports for qualifying projects // Smarter Development Rules · Excludes high-risk areas, like those prone to sea-level rise · Ensures projects meet affordability and public investment requirements // More Housing, Less Uncertainty · Projects stay approved if at least 50% of units are affordable and include public investment beyond tax credits · Opens up new opportunities in previously restricted areas · Clearer guidelines help developers plan with confidence

Lessee is responsible for all STR taxes.

I don't think our detroit land bank sale properties with tax liens I would have to look into that. 

You have tax benefits through depreciation and you are gaining experience via property management.  

Especially if your son could then try to sell his primwry with the ADU under the sec 121 tax exemption I wonder if he could sell you the land?

I made the mistake of letting someone get in one of my first units that was a bit off the 3 times, they were great tenants very kind and enjoyed their stay and experience with me, but could not afford it when I increased the rent on them, which is something you will have to do because of rising insurance/tax costs.5.)