CA is brutal when it comes to taxes.I don't give tax or legal advice, but many people believe that holding the property in your name and having a good umbrella policy is a good solution.

Good morning, Kimberly, and welcome to the BP community!

@Dallas Smith, With some good running of the numbers by your accountant this can work. 

You are still going to get the best rate possible with your significant down payment and with good credit I'm assuming.   

If you will be leasing be sure to get a good maintenance clause in your lease.

Seems like a small company that is growing, so customer service is really good.

Good luck building your portfolio!

Is acquiring a new primary residence and renting your current home feasible?

The good news is you don't need a specialty loan for a house hack, just a traditional primary home loan.

I'm going to exclude my personal residence from this because I don't view this as an investment, I need a place to live.Excluding my primary residence my current breakdown is 47% real estate 53% stocks/cash.