I am currently studying everything I can get my hands on, as well as, helping my girlfriend obtain her real estate license.

how much are they quoting you for a "proper" closet?

I want to get my financing within an LLC and it’s very difficult to find a reasonable interest rate.I have worked 25 years to build a modest net worth and will not risk losing it in a frivolous lawsuit by not having the proper legal entity in place that only costs a couple $100 to create and protect my life’s work.People who advise that an insurance policy alone is enough are not necessarily correct in my opinion.

Just to inform you about why you should agree with anything I say might be because of my age of 61, my construction experience around Dallas for about 30 years, my having a real estate broker license in Texas for about 30 years, my college graduation in business with honors, or the time I have spent learning about this type of investment.I hope that any of this helps your decision. 

@Edmund Yeh you should have a licensed agent who is ultra familiar with this realm of the industry.

(well you can't go West, that's the Pacific Ocean)I've been looking sporadically in places like Riverside County (Hemet, Menefee, Lake Elsinore, etc.) and San Bernadino County (Yucca Valley, Beaumont, Redlands, etc.)You're talking a couple of hours drive from LA proper if you're already in LA and plan to do your own maintenance.

Lenders have to be licensed in each state they do business in so big lenders are the ones that are in the most states or you're probably better off going with a small lender in that state.

Hey @Thomas Lee MalpassA lot more info is needed to properly advise you on the quality of this deal.

Not all, but I went to a real estate training (I just hold a license, I'm not very active) recently and, wow. 

Im from Aurora, I’m a licensed real estate agent and investor as well.