We have over 2000 HOA's here, and a large percentage are heading for, or are already in, dire straits due to Boards not fulfilling their Fiduciary Duty to maintain, preserve, and protect ALL of the common and limited common elements, in spite of having managing agents.

I'm looking for advice in terms of cost effectiveness as well as preservation of anonymityLiving in California, with out of state rental properties, which state would it make sense to file the Series LLC and Trust in?

I got way too caught up in preservation of capital at the expense of not investing as aggressively as I should have been given my age and point in my working career.

Jim hit nail on head. 

I will refi out in 90-120 days, but preserve cash in the short term for other deals.

Simply put, they are authorized by law to to assess regular fees that enable them to fulfill their fiduciary duty to maintain, protect, and preserve all of the common and limited common elements.

Over time, the subfloor secured by the old nails starts to loosen through natural conditions (humidity, change in temperature).

What I would do first is nail down what your real budget is, then I would work on targeting properties in a more narrow price range. 

@James Cash hit the nail on the head! 

For me, your statement "Know it’s now my fault..." hits the nail on the head.