So I should mention that I am pre-approved and looking for a property that has xyz...

I also just downloaded a bunch of podcasts so I can listen to them while doing my day job.I've read The Ultimate Beginner's guide and I'm going to look it over again for a little extra help (since you mentioned it) & see what I can pull from that as well.

You mention too many things that are irrelevant.

I  am happy that you have decide to take different path at your early age.

And as Debra has mentioned, there are a lot of expenses you don't have considered.

Additionally, there is an annual $800 filing fee for each CA LLC (each year), not to mention the additional administrative requirements that must be adhered to to ensure full liability protection, and then finally the hassle of the LLC filings themselves.That seems to be a fairly significant burden to incur on a property by property basis since these are only single family rental properties that generate only about 35k in rents a year.

We have been advised as to reaching out to the county offices which weve been told they are pretty good at giving some baseline answers to basic questions and then investing as you mentioned about 2k into it with civil  to see if what we want to do on that land is obtainable.

., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

I mentioned that a cash offer from an investor might be a better idea in order to get the house sold faster.

Account Closed - you mentioned you pay for the shared area water.