I'm still thinking if this is the right move for me given the high property taxes there, hassles of out-of-state management, additional CA taxes, as opposed to simply investing in index funds (which might have more returns).

I wanted to mention that for smaller properties, there are some vendors out there who offer what they call "fake" cost segregations, where you have to get insurance along with it as opposed to the real ones that cost 5-15k.

It's very crucial to be liquid, conservative, less leveraged and kind of bank on hard assets with debt exposure as opposed to equity exposure, full leverage, and low liquidity of the pre-Rona era.

Your realtor would have charged you tens of thousands a year if you had a portfolio as opposed to one rental...

That's a great creative idea to propose it as a long-term rental, as opposed to the typical arbitrage terms.

Your investment may be impacted by regional laws, difficulties with property management, and market fluctuations.Considerations:Personal Preferences: Evaluate how comfortable you are maintaining a property locally as opposed to overcoming the difficulties associated with investing out of state.Financial Objectives: Clearly define your long- and short-term financial objectives.

I know that @J Scott wrote a pretty good book on the process though, (just finished it this weekend), and I would recommend starting with that.If you purchase the book(s) from BiggerPockets (as opposed to Amazon), they come with a bunch of digital files to supplement the material. 

Wyoming offers anonymity (if that’s important to you), lots of the same corporate protections that Delaware does, costs less, and has relatively instant registration opposed to Delaware which takes several days.I’m happy to connect with you if you’d like to discuss further. 

There are plenty of people with little to no experience that live in other cities and states trying to do this.You may as well self manage as opposed to hiring someone that doesn't live in your area.

with an 1880s wood building (age of many 2 flat buildings) it’s not if you have rotted wood but where. for me it was a constant battle caulking/replacing windows spraying insulation to keep cold air out and conducting yearly termite inspections. you might still have some of these issues with brick buildings but you have more time (fix it this year as a opposed to right now) @Mark Ainley curious if you have any other anecdotal reasons why brick is better than wood- i know i’ve heard this come up on the podcast numerous times