Even CA..

And as we know foreclosure rescue ( which was our bizzness along with courthouse steps purchasing) the sub too foreclosure rescue rent back became illegal in Oregon and WA and highly restricted in CA. 

@Gregory GadsonHi, I attended the Renatus 2 hour seminar in North CA last night.

Thanks for the reply :)  Are there rent caps in California? 

Living in Southern California, I realize the market here is quite expensive, and I’m not sure if it’s the best place to get started.

Hey Kris,I totally get where you're coming from—I live in California, and it's a similar story here.

This seems like a lot of work to save 15% of $35k in taxes (Less than $5k.) especially if you have transfer taxes or title insurance, or you convert your long term 15% rate in to your son’s regular income tax bracket.I hate paying taxes as much as the next guy but this lemon isn’t worth squeezing.

What actions and/or credentials make a landlord an active property manager to deem rental income/loss active in CA?

It takes a long time to build wealth in RE 15 to 30+ years from the California investors I talked to. 

For example, a $650k 3-4 unit where each can rent out at $1,500, allowing for a negative cash flow of $2-2.5k/month the first year.PossibilitiesGiven those goals, it would rule out the more expensive places (California, Seattle area, Austin).