@Jerry Zigounakis For your STR in Big Bear, forming a CA LLC is ideal for liability protection, even with the $800 annual franchise tax and possible gross receipts fees.

Lastly, there will be no management fees!

LLC's separate your personal assets from your investments and offer you protection from lawsuits related to your property, they can help to establish a more professional image if you plan to expand, and they provide some flexibility on how you are taxed.There are some drawbacks, included fees and administrative work, but it's ultimately best to consider speaking with a CPA to determine the best option for you. 

They also know about real estate so less likely to charge you extra fees to get an appraisal or BPO because they can estimate the value themselves.

I know broker fees are $500 so $12,500 in commission?

I have done some research, but I’ve found that many mentors and coaches are asking for significant fees, which feels like a large financial commitment, especially as a newcomer to real estate investing.

Make sure to account for property taxes, insurance, and any HOA fees, as those can vary significantly in different markets and impact your cash flow.

@Shmou N.ShmouYou can collect Rent and all other fees; Utilities, parking, or any other fee needed.We don't currently have a notification of the deposit but I will add it to our develoemt roadmap and you will see it in an update.

These folks wont tell you not to pay them massive fees! 

I guess they think these investors are accredited so a fee structure is a good model.