One nice thing about Sedalia is the rental market is strong - there are very few rental listings on Zillow and I saw nothing listed in Craigslist. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $100,000

Cash invested: $60,000

I partnered with a BP member on this deal, Mike. I was able to negotiate the purcha...

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $100,000

Cash invested: $60,000

I partnered with a BP member on this deal, Mike. I was able to negotiate the purcha...

I have heard of out-of-state CPAs not being familiar with these rules and assuming that California, just like their home state, does not impose a filing requirement on single-member LLCs, and their client missed the filing, and the FTB came after them with fines and penalties for failing to file.This being said, if the out-of-state CPA is knowledgeable about California tax rules, then there's no reason to fear unless you actually want to meet your CPA in person.  

As an advisor who has written over a hundred IULs and own two myself, I can lead you to the correct way to structure these and show you what to avoid. 99% of agents aren't doing the best job for the client and this only makes their paycheck fatter.

I've done some fixing and flipping and have a decently strong background in renovation so if any of my past mishaps can help you avoid future ones I am happy to connect to point you in the right direction.I see your tag was from Naperville, but the title says Elgin...where are you mainly looking to invest? 

Having a business partner is usually a factor strongly weighing in favor of creating an LLC.California is generally more cumbersome than other states when it comes to taxes and filings.

Basic economics, increase demand without similar increase in supply will raise prices.There is a growing strong latent demand, people are delaying household formation or doubling up with other families right now.If rates stay the same, the growing latent demand will begin to force its way into the market as people capitulate and decide they simply have to have a place of their own.In areas with consistent population increases and current housing shortages, stable rates will lead to strong appreciation of existing housing values and increased median home prices.

If you feel strongly about her potential as a good tenant, why not offer her lower rent and slowly increase it as her situation improves.

Personally, I love the Atlanta area for investing, I have a ton of clients who invest in Atlanta and in Baltimore and those areas seem to have a decent return on investment for flips even with having low down payments on the purchases.