McDonald's is moving next year to their Worldwide Headquarters in the City.

https://youtu.be/rJjKP8vYjpQAbove is a link to an excellent scene in the movie, “The Gambler” where John Goodman’s character describes to Marky Mark what we can summate as financial freedom.

If we could time the market we'd all be billionaires.Between what is going on in the government right now and worldwide, I think there is increased volatility right now. 

Texas is one of the states that does not impose an income tax.However, the IRS and States tax residents on world-wide income.As a California resident you would include the income/loss earned from your rental property in Texas.Furthermore, if you operate as a separate entity(LLC Corp etc) you may be subject to Texas' franchise tax.More information of the Franchise tax can be found on the website belowhttps://comptroller.texas.gov/taxes/franchiseWhat area of Texas are you looking at?

I find the gamblers take on the high risk.. the same folks that want quality rentals in a passive mode buy the performers..  

Plus now my network isn't just local to me anymore, at this point it's really worldwide!

Folks, there ain't no free lunch and if you think you can somehow get over on an insurance company then you are no different than the gambler who thinks they can win in Las Vegas. 

If someone comes to me, I'll send them your way.If you need help in your search or want to verify something don't hesitate to ask.For example: I have clients worldwide and things are just as easy as I e-mail them, talking on the phone.

@Erin W.From a tax perspective - As a California resident - you are taxed on "worldwide income" meaning you have to report every income you earned to CA and pay tax on it.This can include W-2 wages earned through your employer, real estate investments in CA and even real estate investments out of state such as Texas.Normally - to offset the potential double taxation - California will give you a credit for taxes paid to another state.

Every state tax return is different but ultimately you will only be taxed on your rental income.You may or may not pay tax on the rental business depending on if you are in an income or loss position.You will file a California resident tax return because you are a resident in the state.You will report your "world-wide" income on your california return which includes all the income you earned such as from your W-2, 1099 and even includes the income from your out-of-state rentals.To avoid double taxation - California will provide you a credit for taxes that you pay to other states.