Consider if it will truly benefit your tax position, liability protection, or asset management, or if it will just add unnecessary paperwork.If you’re in a state like California, keep in mind that you’ll have to pay $800 annually to the Franchise Tax Board, file a periodic Statement of Information (SOI), and submit a Beneficial Ownership Information (BOI) report.It’s a good idea to consult a real estate attorney to ensure you’re making the best decision for your specific needs.

If you are going to complete the BRRRR method in a lower tier neighborhood, select a neighborhood with the fundamentals that indicate the neighborhood will transition to a neighborhood where home ownership will become more prevalent.

There is zero accountability and ownership over major issues.

Remote ownership will be my primary play as I want to keep living in SoCal. 

Regarding vacation rentals and split co-ownership - there are timeshares that have fractional ownerships.

This structure can provide liability protection and potential tax benefits.Consult with a Lawyer: A real estate attorney can help you form the entity and ensure it's set up correctly for property ownership and management.2.

@Archie BarrettJust wanted to say that there are MANY reasons to consider a DSCR loan vs a conventional loan, not ONLY if you do not qualify for a conventional loan due to DTI.Possible DSCR Benefits:Can do cash out refi prior to 1 year seasoning of the mortgageCan do cash out refi with no seasoning of ownership (with some lenders)Can do a loan with much less paperwork (this comes more into play every time you add a property)Can close on a DSCR loan directly in your LLCCan have your DSCR loan not report on credit (depending on the lender)DSCR loans can be cheaper than conventional loans for many credit scores and down payments.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊I have tried to do about 95% of what you suggested and I keep coming up empty handed when trying to find a decent PMC. 

.- Title Insurance: Protects against potential disputes over property ownership.- Appraisal Fees: Necessary to determine the property’s market value.- Closing Costs: This can include various fees related to finalizing the loan, such as recording fees and settlement costs.Inspection Fees: If required, this ensures the property is in good condition before purchase.It’s a good idea to discuss these potential costs with your lender upfront to get a clearer picture of what to expect.

They can also help navigate any IRS regulations related to co-ownership and rental arrangements with family members.Investing in specialized tax advice can help ensure you’re fully compliant and making the most of any available tax benefits.Hope this helps!