Typically, the tax is based on the assessed fair market value of the property at the time of the transfer, even if it’s not a traditional sale.

We've never used percentage-based criteria, like the 70% Rule, for purchases.

It would still be based on the revenue it produces.

My Insurance Agent has strongly recommended that I put a Construction Agreement in place with my Contractor to shield me from liability, etc. 

Hey @Brett Baker, generally, any place with a great water view or directly on the water will bring more revenue.Of course profitability will all be based on purchase price and prevailing nightly rates in the area.If you find a cool 2/2 or 3/2 right on the water with a great view for 1.5m or a 2/2 or 3/2 house a block away for 600k, then I would look at the house over the condo.

Business is based in California but I’m licensed to operate in Texas, Ohio, and Alabama in addition to California.

All the add-ons are a la carte so you can definitely get a lot of value based on what you need.One thing I personally don't like is that when tenants pay rent, they are charged $1 per transaction for ACH use.

Property values: There is a strong relationship between homeownership and property values.

How do I navigate taxes on this property between the two states, I only plan to have a rental property in Oregon right now, but I will be living in California.I'm also based in California. 

Since you are based in California, do you know of any good CPAs who are geared towards real estate investors ?