If you plan on self-managing the properties, then you’ll likely need to register each LLC as foreign entity in state of CA and pay franchise tax for each one.

For non-primary residences, they have to follow all of the following rules to receive a permit: - the property must be a minimum of one (1) acre in size (designed as a precaution to disturbances)- The building standards of the underlying zone district must be met - Adequate parking is provided - Defensible Space requirements are met - Valid water and sanitation must be demonstrated - No more than five (5) bedrooms are in the dwelling As time goes on, they continue to become more strict on the rules listed above here, and are actively regulating it.

I also support the point of thinking at least 10 years ahead and only buy properties your future self will be happy.

For me, it has been multifamily for these three, but I am also interested in self-storage and hotel conversion, maybe industrial flex in the future.

An additional goal with the LLC is to hopefully write off some time and miles I put in on these properties as I self manage and repair.

However, one concern with newbies is attempting to self-manage in high crime areas.

Does that mean you're doing fully self serve showings?

If you can find smaller local banks in the market you pick they may have more unique products that they keep on their balance sheet or try and do the 5% down conventional on a 4-unit  FHA's self-sufficiency test applies to both 3 and 4-unit properties.

Are you self managing or outsourcing for management?

Only tech and big business with cash can survive.i am actually still bullish to syndication but only for niche selective asset class like warehouse or self storage, as common industrial trends are going towards more consolidation of business.... and their IRR is still 20-30% conservatively.But yea in MF there's no creativity, they are selling the same Kentucky Fried Chicken,Alabama fried chicken, with almost no creativity and no innovation.In general I think we could hold that true of the lack of innovation business wide the last many years. ai is a great example.