Flipping is probably a little more intense, but can still be done with a day job, but again, my average flip versus my average rental: flip has made much better returns.And as for generational wealth and handing down something to your kids... well, I guess I view it as: if I can hand my kids a $10mm trust fund held in public securities, or $10mm real estate portfolio, they are going to be pretty set either way, but a real estate portfolio will continually have costs and work, a brokerage account is a bit more set and forget, with some periodic rebalancing.

That really is the only way to have an efficient professional partnership - total open communication whether the conversation is pleasant or sour. 

While this is less tax efficient, it would be less work / less stress.

I am over in the Fort Worth side and have been STRUGGLING to get bookings period!

That being said, most originators are hit with a clawback penalty if you payoff your loan within 6-9 months, meaning that the originator has to repay all commissions and fees to the buyer of the loan if you payoff the loan within that period.

After 3 loans my principal was the same after 10 years as it was when I purchased the properties.We have different definitions of rich, particularly over such a long period of time. 

Your attorney or CPA should be able to create tax efficient structure for you.To avoid this, keep management and decision-making localized to Alabama, and consult a CPA or attorney to ensure compliance with both states' regulations.This post does not create a CPA-Client relationship.

If you have an LLC in CA, you are going to need to file taxes there for your LLC, period.

We can transmit electricity reasonably efficiently, and then we can transport actual material (ie: water or natural gas) reasonably efficiently. 

Particularly over an extended period.