A properly set-up DST will both protect your assets and bypass the burdensome franchise tax that would be levied against a Series LLC.The Delaware Act expressly provides that “[n]o creditor of the beneficial owner shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the statutory trust.” 12 Del.

My car insurance would pay but I have a $500 deductible which I really dont feel like paying because this wouldnt have happened if the property would be properly maintained. 

After taxes, insurance deductions etc Ill be taking home 190k a year.

My question is: Can I deduct the interest expense in California (11% tax) where the house is while using the money in Massachusetts?  

As expected, there is a deductible for this insurance coverage.

@Melanie PendreyThis will complicate your tax situation...Mixing HELOC proceeds for whatever you need whenever you need means you need to trace and track proceeds to determine interest deductibility. 

So I assumed the same $10K CapEx here as well.This is a long-term buy & hold property (5+ years) looking to generate positive cash flow and deductions for tax purposes (accountant says we need more deductions).Rentometer claims around $825-$850 is a decent rent.

Keep it for capital expenditures, future repairs, mortgage payments and make-ready costs while you have turnovers between tenants, insurance deductibles for hail/fire/flooding and the like.  

If the LLC is only in my name, would I be the only one to get the tax benefits (business ownership, mortgage deductions, etc.)?

Also remember 2 things: 1) principal payments on loans aren’t tax-deductible, 2) interest deduction is a huge offset to your rental income for tax purposes.