This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Any lawsuits should be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced, some debate as to SMLLC).

When I spoke with a real estate professional, she said the home would probably sell for around $250k in its current condition.

If the deal sounds too good to be true, it probably is.

If you’re paying off more than $1,500/mo I’d probably keep it barring any major upcoming capex. (3-5 years out so buyer wouldn’t automatically ask for it to be repaired at sale.)Good luck either way. 

If the answers match, you’re probably in good hands.

You can find higher ROI (on paper) here and probably in other cities…but the probability of actually collecting rent significantly decreases.

We can probably find small rentals for $250-300k each.

We probably would have renovated the main house also, and turned that one into an Airbnb if we had really thought about it back then.

They'll probably also want to be sure that you are competent to operate the property afterward, because their reputation is tied up in who they do business with, and it's bad for everyone if the property becomes devalued.

Otherwise, you probably aren't saving what you're think you're saving.