Our strategy is to buy and hold, benefit from the positive monthly cash flows, and sell after about 5 years of stress free property management.The issue I am having is selecting finishes that are reasonably affordable (dare I say cheap), durable for renters, and still get top $ on an appraisal when we go to refinance. 

People see where I'm at in life and think I inherited it or just tripped over my position in life.

I think now I can raise rent when we get it ready... thinking positively!

Since then, I have been soaking up all the info I can, sorting out my personal financial position (Biggerpockets money podcast has helped with that), and gathering the courage to take the leap into my first deal.

Whatever he owns in the LLC should be protected though, if he/you maintained properly the LLC.If one of the other partners in the LLC get in trouble, depending on how the LLC partnership is created, the LLC assets (that joint account...is that a business account?)

I have a new real estate company with no positive tax returns.

But like I said, I plan on moving closer to LA eventually...I'm scared I won't be able to rent out my place later, or if I do, if it will create positive cashflow... 

If I were to L/O my house or rent to own for say 3 years, I believe doing a bond for title will allow me to maintain the owner occupied tax amount.

In my opinion the best choice would be to see what position you are in now and which one will benefit you most on getting the knowledge and ball rolling for you on your own

They are putting these on the MLS and maintaining the home, and that is pretty much it.