What are some practical actions I can take to get started?

Smart guy with the most practical advice, some great books, and he started in California.

Other things to note: there is an option fee the tenant has to pay (and you may keep if they choose not to exercise the option to buy).

Most LLCs are set up for liability protection or similar non-tax reasons, and especially in CA, the penalties for "non authorized" practice of law are steep that a lot of CPAs will not even form the LLC for their clients. 

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

I also hope to build my network of lenders, contractors, etc.My highest priority currently is learning and practicing to identify and analyze properties.

I know there is all this talk about the Olympics coming but on a practical basis that has no effect on you unless you do STR, which you typically can't in a rent controlled property.3.

While the “debt to equity” practice may not meet MY PERSONAL definition of “fair”, in and of itself it is not illegal, unethical, or fraudulent.Truth is if the posters warning about the subject have accurately portrayed the specific situation, there is cause for concern.  

To make a long story short, i am told there are quite a few complexities and fees that make it only practical at scale.

My real estate agent doesn’t seem familiar with that and didn’t tell me about the 3 people outside of family circle max requirement in single family zoning.I also need advice for renting finished basement legally and make more bedrooms, experiences and tips are more than welcome as he didn’t seem knowledgeable.Shall I change of real estate agent and find someone more used to this type of practice ?