You are required to file a complete and accurate return, which means reporting the income that you earned along with atleast the direct expenses that you incurred on your rental.There are two comflicting forces - Your tax accountant wants to be aggressive with deductions because it will entitle you to paying less taxes(now or in the future).Your lender wants to see as much income as that will increase your Debt to Income Ratio(DTI).The good thing is that you can speak with your lender about 'one time expenses', that were only incurred in that year and are not reoccuring. 

There have been complaints filed by multiple parties. having been a broker for many decades and owning 3 brokerages over the years.. at least out this way when complaints come into the DRE and they are numerous they will most certainly send an investigator to this companies office and request the books.

Ignorance IS a defense in residential, and one a party can file a class action lawsuit on because that's much of what just happened nationally.

I'm about ready to file a complaint on them with the FDIC.Moral of the story, it's a nifty application but I would be careful about how much money you keep in that account. 

You file for eviction and they employ multiple delay tactics that extend your court case 3-6 months without batting an eye, all while not paying rent.

I personally recommend working with a CPA who prioritizes integrity and accurate tax return filings, so that if you're ever audited, you won’t face back taxes, penalties, or interest.

Do you have the knowledge in this filed of realestate ? 

Saw one person who sent their own demand letters and screwed up the amount owed so the borrower waited up until day before FC, filed an injunction/ temporary restraining order and won and got the case thrown out and started all over again.

I know the LLC needs to be filed in the state that it does business. 

Same goes for number of LLCs and what to fund them with, since bear in mind that CA tends to be more cumbersome and expensive to have LLCs than other states.California is generally more cumbersome than other states when it comes to taxes and filings.