Generally if you are up front about the intention and the members are disclosed along with the membership interests and members personal financials underwriting can proceed with the formation docs to follow.

Retain a cash reserve to cover vacancies or downturns, and align with your long-term goals by consulting a financial advisor.

I live in CA but am open to investing anywhere that makes financial sense.

Your dilemma boils down to two priorities: maximizing your investment growth versus creating financial stability for your personal residence.

Absolutely, it's clear you've put thought into your real estate journey, and your aspirations for financial freedom are commendable!

A single property is simpler to manage, carries lower financial risk, and offers streamlined tax reporting but may generate taxable income sooner.

Essentially, it was one account with the bank tracking individual tenant details on your behalf.That said, it’s critical to ensure your financial records remain accurate by reconciling the account on a monthly basis.

It depends on your financial strength, the quality of the property, how many properties you own, etc.I like to start with one significant expense and three months of vacancy.

Use a tiered approval process to give them control over larger expenditures while enabling quick resolution of smaller issues.2.Proactive Maintenance: Implement preventative maintenance programs to reduce costly emergency repairs and extend the lifespan of property systems.3.Monthly Reporting: Deliver detailed monthly financial statements that outline expenses, rental income, and ROI performance.By handling their funds with care and providing transparency,  trust is built with owners, ensuring they feel confident in the relationship.Making Tenants Feel HeardHappy tenants are the foundation of long-term occupancy and reduced turnover.

The new President is going to do this, do that, yada yada yada.Unfortunately, a lot of financial and tax professionals join this nonsense and pollute our brains with never-ending "How to prepare for the incoming tax changes..." podcasts and posts.