I’d be happy to help you out.

Since you're considering renting out the condo in 3-5 years, refinancing could help reduce your payments later.

Quote from @Drew Sygit: @Saurabh Kukreja you can find a sheet someone's created & shared using this thing called, "Google".Why awesome suggestion and helping out a beginner !  

Happy to share insights or help however I can, no matter where you decide to invest, or tell you more about Chatt!

Otherwise, it’s treated as a partnership requiring Form 1065.Get an EIN (Employer Identification Number) from the IRS (free) for tax and banking purposes.Separate personal and business finances by opening an LLC bank account and keeping rental income/expenses distinct.Consider an operating agreement, even if not required by state law, to define ownership and responsibilities.Liability protection: An LLC helps shield personal assets, but you may still need landlord insurance and an umbrella policy to cover lawsuits and unexpected claims.Tax strategy: Rental income typically passes through to your personal return (Schedule E).

If you need help with a loan or anything else, feel free to DM or email me!

Weighing the long-term appreciation potential of California against the stronger cash flow of other states will help determine the best strategy for you.Good luck!

Additionally, the property includes an outdoor swimming pool.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

I have year of 7 years of experience with drywall, and paint work so that helped me out a ton.

If you choose the right company it'll drastically reduce your risk of maintenace coming up in the first 5 years and also help your yield.