California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

They need to understand how to calculate cashflow, cash on cash return, gross annual yield and so on.

We are both maxed out on SS withholding and this is  an investment property which we will hold and we won't have any employees.   

If you are operating as a disregarded entity, your LLC does not need a separate EIN unless you have employees. 

Gross profit and Net Profit are very, very different things.

If you'll be dealing with a call center or hourly employee, avoid them! 

We love the area ourselves, and we found reports of rentals like ours generating $25k - $30k, gross.

Also the (GRM) gross rent multiplier

I own 4 of them now in Big Bear LakeBest 3 things:They make a ton of money and are booked at almost 100% occupancy all year.The real estate isn't that expensive although that is quickly changingThe city ordinances aren't as strict as Palm SpringsWorst 3 things:Very difficult to find reliable vendors, mainly cleaning serviceLocal crime is very high11% transient rental tax on gross incomeIf I could start over I'd still invest there, it has made a great investment so far, but it has been very stressful.

Be very careful about calling yourself a property manager.In the state of Illinois an employee can manage property for their employer.