Thought about adding a hoarding clause... one of our tenants has a side hustle where they buy, build, and sell holiday gift baskets.

I am aware of California's Prop 13+58+19 prop tax inheritance evolution and its complexities with LLCs but we are not considering inheritance or parent->child gifting etc.

At the time I looked, 20 or so years ago, the problem with smaller down towns is the proliferation of nearby strip malls, where the stores are surrounded by a large parking lots, and for laundromats, attract more customers as they can park easily, walk to adjacent stores for shopping, snacks, and browse newspaper and magazine racks, which explains why they do better, there's more customers.

I found this property while driving for dollars after leaving the local barbershop/garage shop 🤣.

It is close to the downtown area but the majority of area is bigger lots and on the other side of a prominent hill that gives it a more out in the country feelFoothills is the most exclusive areas with higher price points and lots of upper end shopping and diningMarana and Oro Valley are the newer "suburban" areas of Tucson that have the laid back walking and biking paths, golf clubs, snow bird / retiree type activities that draw visitors in and then get hooked and eventually buy homesIf you haven't tried Tucson yet, there is quite the variety and with snowbirds leaving, there are plenty of current STR's ready to host you as the summer warms up. 

Seems like an overkill and all you need is an insurance policy as any good attorneys first question will be "how much did the LLC who is to be separate from you pay for the property" - when the answer is zero and it was gifted. the next question will be do you gift properties to others as well?

It just makes life easier - they shop a variety of insurers and are more easily able to compare apples to apples because they know how the various companies present coverages.

Shop around if you can to determine what is a good rate to pay.

One lesson learned: Create a good relationship with contractor and shop around for the best pricing on materials.

I agree with the previous guys comments and say go to free webinars and   Make connections as best as you can ( at coffee shops, grocery stores, restaurants and sports cloud bars, meetups, etc).