San Diego is expensive to Purchase, maintenance and cap ex is expensive, property tax at purchase is expensive in terms of dollars (average SFH prop tax at purchase is ~$1k/month in San Diego), new retail (MLS) purchases are negative cash flow when allocating properly for expenses, it is tenant friendly in terms of regulations but this is largely due to the big advantages LL have due to crazy low vacancy rates.  

Overall inventory stayed flat at 69,464,000 square feet, with no new completions in the quarter.Asking and Effective RentAsking rents in Los Angeles declined marginally by 0.1% quarter-over-quarter to $34.21 per square foot in Q1 2024.

Welcome to the Taxation Gray Area club! 

I had never seen anything like that in my career but it seems to work we have funded half dozen deals last quarter..

. • Preparation of quarterly reports for the Board of Directors outlining the current status of the leasing program. • Coordination with the Association attorney as needed for enforcement of the leasing provisions. • Assessment and collection of costs for this program from the leased units by the authority of the Community Covenants, Conditions, and Restrictions (CCRs), $150/year.

It is my understanding I can then elect subchapter s taxation and the LLC will be deemed a disregarded entity by the IRS.

If they are showing you multiple homes, consider their time as well, and their desire to be compensated because it is their business too.In San Antonio, I pay an annual and quarterly fee for MLS access.I wish you all the best.

@Holly RossI recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

We are receiving quarterly distributions as promised and things are going very well.

@Namal BurmanI recommend finding an accountant who specializes in real estate taxation and tax planning.