Weighing the long-term appreciation potential of California against the stronger cash flow of other states will help determine the best strategy for you.Good luck!

I'd recommend looking at costs. your build cost is going to be well over other homes because of the fixed costs like slab, Hvac, roof, etc. check the market drivers and weight the benefits of short term versus long term. long term is no furniture and help pays mortgage but at this size it doesn't really cover everything. we didn't find a lot of economies of scale in single family detached. can you build more than one unit?

As we all know, the standard way BP says to calculate cash flow actually leads investors away form long-term opportunity and leaves a lot of investors on the sidelines because they don't understand IRR and the multi layered dynamics of investing long-term.  

It doesn't take long to learn how to spot a good deal.6.

Always evaluate the numbers before proceeding to ensure the property will produce positive cash flow long-term.

You can call the permitting office or a structural engineer you might use and ask them how long permits usually take. 

My thinking is increased value and cashflow on a long term hold.

You really don't need that LLC until you pay off the property and it's questionable if you need it then as long as you maintain your property and have correct insurance.Yes to wind insurance, not sure about hurricane.I use Foremost STR policy for one property.I am about to switch to USAA (retired Navy) for another because they quoted a policy that was 3k lower than what we have.

We're in it for the long haul, we want tenants to stay a long time and reduce vacancy. 

My name is Dima, I was in tech for a long time and got into real estate and business investing in late 2023.