I live in Southern California and the market here is out of my current price range.

I'm guessing you can see why they don't interest me.I grew up in it my dad was buying tax sales in CA in the 60s... but those were tax deeds. you buy it you get a deed 30 days later you record it you own it and it wipes out all liens expect the ad valorum taxs and IRS that has a redemption right. 

I would not take that owner financing if possible, I don't know about your market but that interest rate is double a good cap rate in CA and more than most hard money lenders would charge. 

visit my site called smaller pockets for more nuggets of wisdom like this one (kidding).

For example, CA requires reporting and an annual $800 tax on all CA LLCs, even if the property is elsewhere.

Hi,I am starting investing in cashflow markets after focusing in the past only on appreciation (no other choice in California) .

I invest in single fam props in Houston however I live in Woodland Hills CA.

This sales structure is pretty common in CA where property values have appreciated as you've described.

Bay area California BPers, anyone know a good foundation person in the east bay?

Now I want to actively get involved and hopefully meet others in the Reno / Sparks / Tahoe area that have found success in this hot market.I am originally from Southern California and went to school at the University of Nevada.