I would appreciate if any accountants, lawyers, etc. can shed some light on the implications that arise from being a CA resident who invests out-of-state through a business entity such as an LLC.I want to create an LLC to invest in out-of-state multifamily rental properties (to hold for a long period of time, possibly forever).

Ultimately there will be some regrets trying to shed a nickel here and there.√ Leverage offsite professionals early on to grow your business.

But there are some rural resort towns with lakefront properties that do not (yet...) have any regulations.Thank you for shedding light on this.

Last words: I'm not the sharpest tool in the shed, but I'm making mine work until I decide to take my money somewhere else, if I decide to do that.

If anything I would hope the mod team would encourage us to shed sunlight on lousy ideas, not support them, this one is around the pinnacle of mediocrity. 

Can anyone shed some insights into how to finance duplex?

I have been playing with the idea of finding a 4 or 5 bedroom property that has either a garage or nice shed out back. 

.* Sump Pump Coverage - If you're in an area of the country where sump pumps are common, then you do need to know what coverage is in place* Outdoor / Other Property - If you have a detached garage, shed, retaining wall, costly wall or fence, etc., then you should certainly bring these items to your agents attention. 

I called, had insurance and bond, both the same company.  3 days later he dropped a tree on my shed. 

I think I have one living in my damn shed!