Thank youGerman It is the CA Franchise Tax Board's position that an out of state LLC owning an out of state property run by a California resident would still need to register in California:https://www.ftb.ca.gov/forms/m...

I don't have any debt and I don't have kids or much going on outside of my 9-5 career. 

Yes, it is board as I wanted to see what is on the community's mind in their arenas.  

I’d love to have real estate provide some financial freedom/flexibility and create a portfolio that I could eventually get my kids involved with and pass down to them, but I end up feeling frozen/stuck based on the factors above. 

Although I've been using trusts for years, I am literally just doing my estate planning and my attorney said I did everything right to be able to pass my properties down to my kids.

So to me new members might need some time to get set up they may need to get help from their kids or spouse to navigate this site..

I know when I was a kid some rich people I knew talked about doing something and getting a finders fee.

Quote from @Andy Bodrog: Thanks a lot for the replies @Chris Mason and @Gregory SchwartzOur lender said we can do a bridge loan but its around 11%.. id bring in 20% downpayment max, dont want to put too much personal assets into it and the issue is for yr1 w low rents and renovations its def a monthly -3-4k loss. def want an 8% or lower rateNot sure if lenders are ok with an initial cashflow loss, once its renovated we can have market rents and its a great deal after. it listed at 1.495M and we'd offer 1.2-1.25M. i understand the living in part doesnt necessarily bide well with investment focus, but for us thats a big appeal that its in a nice area to even live in If all you are looking at is 5% annual rent increases, that's not actually enough to get that 11% bridge lender on board.

Just put the tool on one of the boards that has a gap and hit the slanted end with a rubber mallet.

The skiing pales in comparison to Colorado or the Sierra Nevada of course, but I still thought it was pretty great as a kid growing up in the midwest 😃