@Angelo LlamasAt the bare minimum, you should do the following to make your bookkeeping easier:- Dedicate one checking account and credit card exclusively to real estate.

Those places were awful and barely habitable, but it is what S8 prospects are being offered.

This leads to state funded insurance which will be very costly because only those at highest risk will participate in it and if the losses continue, they eventually will need to get the money from someone (rest of people in california?) 

The only real advantage to using an FHA loan is to offer only 3.5% down payment, which in my opinion is barely justified as an advantage. 

Real stone fireplace, quirky kitchen, a shower you could barely turn around in.

Costs are too high and I'm into this for over 100K.I have feelers out for someone who might accept my lot as participation for an equity agreement in a new build.

However, I do not know who this could be beyond a property manager which would not work in my case since I am looking to self manage for both tax (material participation in STR loophole) and profitability reasons. 

I have my own designs and after uploading them and sending them out for a few rounds of marketing I eventually received some un-deliverables and they were barely legible along with their being major defects during printing.

Getting a lot in equity, barely anything in Cashflow.

I am not a tax adviser and barely graduated high school so I am not sure if I would listne to me.