For the LTR outside CA, forming an LLC in the state where the property is located can reduce administrative costs and avoid double franchise taxes in California.

Renting at FMV allows you to deduct mortgage interest, property taxes, repairs, HOA fees, and depreciation against your W-2 income, potentially reducing your overall tax liability.

Stick to areas you know well; this familiarity can greatly reduce risk and boost your confidence when making purchasing decisions. 2.

I won’t try to tell you what to do other than if there’s certain properties that just consume way more energy you might consider 1031ing them into slightly larger properties where you could get better economies of scale for your time and expenses.

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

My agent is saying that we are unable to split the contract that way (or reduce the purchase price), so I'm trying to figure out options.

While it might feel like an extra charge to tenants, these packages often provide value that indirectly benefits the property owner as well—like reduced maintenance calls or ensuring the property is better protected.In my experience managing a large portfolio of properties, these fees are becoming more common due to the thin margins in property management.

With this, along with shifting the utilities to the tenants and reducing the management fee to generate an NOI of around $103k, I'd estimate the value around $1.8M to $2.0M

That 18% premium reduces the cap rate quite a bit.

Here’s my two cents:Paying off the condo might make sense if your main goal is to reduce risk and enjoy the peace of mind that comes with no mortgage.