But what you did accomplish is that now you owe $800 per year to your greedy state of CA, even though the LLC is formed in another state.

At one point years ago, I toyed with the idea of owning giant apartment complexes in multiple cities.

The logistics are simpler since as you get 4-5 turns/year and it isn't affected by the city ordinance on STRs.

Even if the rental has a decent cash flow with additional flood insurance, we're still not sure we want to take on that risk as we are out-of-state investors (planning to move back to KY in the future, but not now) and we don't like that it will potentially bring down the perceived value when we try to sell it in the future.The seller has never lived there and has not provided any information on if it has flooded before or not. 

You can probably find some around DFW in some of the outer cities for around $250,000, so 1031 the ones with the most equity into more properties with chances for more appreciation.One thing I would suggest is not to buy NEW from the big production builders. 

The redemption period in my state is 90 days, not three years.

Augustine city limits?

.: Quote from @Don Solt: Hi folks, As the topic states I'm looking to learn everything I can about the City of Philadelphia and its real-estate market.

Every state has different laws regarding a notice to terminate/non renewal of lease.

Are you looking to invest in state or out of state?