Unique, design forward property.

So, don't just concentrate on vacation rentals. 

When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or to refund to the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account that is specifically designated for future investments.

You are definitely over-thinking it.An LLC is a defensive maneuver designed to protect you when sued.

When my investor friend got a great tax strategist his tax bill went to almost $0 and he has been able to continually generate great cash flow and returns legally using the tax code that was designed to help us as investors.

Usually a sewage tap is a big-ticket item.What's the design of the garage cum ADU?

Designed and Built a new house What was the outcome?

CIAS (Certified Investor Agent Specialist) is a designation that agents who work with investors can get.

They can be complicated and are rather pricey but if the numbers work and are structured correctly they are designed for exactly this type of situation.Basically a land ease of at least 30 years in duration if structured correctly can be viewed as being real estate itself.  

Obviously in larger cities like LA & NYC these margins of error are quite small +/- 1% because the government surveys a lot of people from these MSAs since a substantial portion of the American population is concentrated there.