@Mark Forest It's true that Detroit is not great for buy and hold appreciation.

I knew it going in, but didn't realize that my holding would appreciate so much that I would want to sell.

@Daniel KimBuy and hold in Columbus, OH - much higher rent to price ratio than LA I invest in Columbus RE, huge growth to come from recent additions to the tech sector (google, intel, amazon, honda, and many start ups).

Rinse and repeat a few times and watch it appreciate. 

Must we forget the other federal agency, the Federal Reserve, is in a highly restricting posture right now, holding interest rates at historic levels to slow inflation.

Im not going big, but I should be able to hold it for a few years until the market comes back.

Our efficient execution minimized holding costs and maximized ROI.

Sometimes you will do bad and you will be stuck holding the bag and NOBODY will bail you out.If he did a great job give him more business, pay him on time, answer your phone when he calls, and support his business.

But you're asking someone to hold a piece of real estate for you - that is worth some amount of money if you are truly serious. 

Though, this process will be the same for the other state (if you created a CA LLC you may need to register it as a foreign LLC in the state in which you are doing business/holding property).