@Toby Russell there is no tax benefit to utilizing an LLC except for the fact that it provides us with flexibility to later elect the S-Corp tax status.

I see hosts being penalized and losing their super host status just because one time their pool was not warm enough or the grill had no gas.... etc.Of course, it's all about your target market.

A CA broker is somebody the performs services for compensation, if no compensation, then no broker status, thus no usury protection, regardless of license. 

The County had also informed me that if the property has been vacant for two years or more, no matter what the status is currently, it reverts back to a duplex.

Understanding and finding the niche that fits you and your personality is important, or you may end up being like the countless others that jump in, and realize they didn't factor enough expenses in, hemorrhage money from day 1, and sell cheap in 4 years just before marital relations dissolve.          

As I see it, here are the options:1- get a full-time job in the new town (but I won't have a 2-year history with it - so might not work)2- enroll in school full-time in the new place, loans go into deferment status (I read this was a loophole, and I do like the idea of continuing my education), hopefully qualify for FHA or FHA 203k3- go conventional with less expensive property (keep my job in CA and hire a property manager)4- quit my job, purchase a small motel using SBA 10% down loan and live in the manager's unit5- suck it up and stay in CA, use my salary to qualify for a property here (but down payment is then a hurdle)The properties I'm looking at in AL, FL, GA are all in the sub-$250k, many would pay for themselves plus provide $700-$1000 monthly cashflow after all expenses.

I'd just try to open some more communication with your agent as to the status of the deal.

Claiming that status when you do not meet the criteria can cost you a lot of money...M & M v.

@Johnathan Boyle @Mark Gallagher, Thanks for letting me know about the Homepath status.

This is my current status, I am buying an investment rental property and closing in about 30 days.