However, you can claim a tax credit on your California return for taxes paid to Oregon, mitigating double taxation.If you only plan to own this one property, consider using umbrella insurance as an alternative to an LLC.

My plan moving forward is to acquire another 20 doors before years end and I'll provide another Portfolio update around then.Happy Investing!

Now having a trust to avoid probate, care for young children or folks not ready to inherit large sums of money yet are very good reasons to have trusts.

@Nick Henry this also comes down to how much time you have available and how much effort you are able to put into purchasing a home or building and doing renovations and then finding quality residents to live and take care of your asset.

I'm planning to use that money for a downpayment  to buy a multifamily where I would live in one side and rent out the other side. 

It sounds like you might be in the situation I'm in: buying a vacation home that I plan to use as a STR when I'm not using it so that other people can help pay my mortgage.

It also depends if your tenants have good credit they care about.

As for the zip code you mentioned, some of the areas in there are nice due to steady rental demand, you just want to be very careful on the neighborhoods you select as some areas will be better than others.

Here’s a breakdown of some of the information you may need to provide for a cost segregation study.For existing buildings:List of equipment on the propertyProperty settlement stateAny appraisals or purchase/lease agreements Property maps or blueprintsSchedules, change orders or documents for future renovation plansSupporting documents for calculating real property book valuePrevious purchase price allocations that separated assets into their appropriate allocation and valuePast site inspections and photographsDocumentation that proves or records deterioration of assetsFor new construction:Contracts or contract paymentsLand and property sizeBlueprints of projectList of equipment involved or purchasedList of projected costs including costs for land developmentApplicable site inspectionsConstruction schedules and payment requestsPhotographs of completed assets or work in progressCost segregation specialists typically have an organized plan for the collection and analysis of the information provided.

But it is a heck of a lot of incentive to do whats BEST in interest of a Landlord, which is getting high quality tenant with low occurrence of issues that operates on cruise control of consistency and quality care of property, for a duration. % based, it's just about getting bodies in and keeping them in, and that's done by taking the first most desperate trash off the street who says they'll pay.