I took advantage of that for many years, but many people think that with the ongoing exodus of people from Cali, plus the continually increasing taxes and fees courtesy of your Governor, that Cali could very well start to fail.

I have an off-market opportunity and want to jump on it! 

That includes weekly cleaning, chemicals, flushing of filter when it needs it, topping off the pool, and my people clean the pool deck when it needs it.

We are going to be buying property and building a spec home shortly and need to understand the pros and cons of doing this deal through an LLC vs. as individuals, from a tax perspective.

"Labeling" is not relevant for taxes. 

Are you including these taxes (6% state + 6% county) in the charges to the tenants?

Oops go too hot now have to wait an hour for it to cool off some. 

Therefore, what would be the capital gains tax implication on this? 

The best way to find these off-market deals is by connecting with agents and wholesalers who find these deals.. or to start marketing yourself if you have the time and recourses to do so. 

My house is paid off but I’m at a dead end job and would really like to start building more wealth.