But as I watched others doing well and realized the market was continuing to grow stronger, I started actively looking for a deal.How did you find this deal and how did you negotiate it?

Paper profits are not true realized profits.

I agree the liability or umbrella policy seems like a much easier route.... but I created the LLC already before I realized that, so figure I might as well try to get it figured out.  

CA has a law specific to 1031 exchanges, if you exchange a CA property for an out of state property and you later sell that out of state property then CA may assert the right to claw back (tax) the gain attributable to the CA property that would have been realized if it had been sold rather than exchanged at the date of the 1031 exchange.In this regard you may have annual reporting attributable to the out of state replacement property so CA can track what you have done with it.

Appreciation is always important in RE, but in TK investing the forced appreciation has been consumed by the TK company and it will be years (in general) before the investor can realize market appreciation.

I do have to realize that it will take time and need to be patient. 

If you don’t mind explaining 🙌🏻Sorry, I just reread my post and realized that it's kind of cryptic.

I realize I should have done all this during my due diligence period but I'm learning as I go...

Also, realize that when you purchase a property via LLC, the interest rates will be higher.

It's very useful to help quickly read through a forum post without re-reading the same content several times as you realize that's a quote you read above.