The idea is simple: purchase a property, live in one part, and rent out the rest to offset your mortgage or even generate profit.

Would your STR business even exist without Airbnb?  

An even stronger indicator is that I am getting more and more orders to do BPOs (broker price opinions) for "banks".

I previously lived in this property and never locked myself out of my room so I never looked nor do I even know if I have a key for the bedroom door.

If the LLC and its income are entirely outside California, it typically does not require registration with the California Secretary of State (SOS) or payment of California Franchise Tax Board (FTB) fees, even if you reside in California.

Any advice or assistance from this community is welcome and appreciated.

Price to rent ratios have skyrocketed everywhere and it's pretty unlikely rent will ever get to a point where it evens back out because at those levels it's just as cheap/cheaper to buy (not to mention most renters can't afford anything like that). 

I have one tenant who is a god send compared to most, he accomplishes nearly ever repair I need, even did an HVAC unit. 

Even if you have a good framework, it's much harder to manage virtually and stay on track.

Some thoughts that go through my head......Who do you contact to get current values, after renovation values to see if this process is even worth it?