Just be mindful of the following things when it comes to California.California does not recognize Bonus DepreciationCalifornia does not recognize real estate professional status.Therefore, you can potentially reduce your Federal taxes but not your California taxes.

Just looking at Zillow I’m having a hard time making the numbers work between prop taxes, insurance, management on 20% Down vs cash currently earning 5% (albeit that 5% going away soon with rate cuts)  To be completely honest, there's not much right now that will give you decent cashflow without getting into a full rehab.

Options like a unique amortization schedule or a 3/2/1 or 2/1 stepdown interest rate could provide initial relief to get you through the renovation phase while giving the seller confidence in a structured payoff plan.To determine an entry point, consider reducing the price based on the current NOI.

For house flipping, consider an LLC taxed as an S-Corp to reduce self-employment taxes by taking a reasonable salary and the rest as distributions.

We would like to learn about how we should have went about it so that we can purchase more properties, minimize mistakes, and reduce our reliance on corporate life.

He had already been working with another agent for some time, but he was willing to give me a shot.Over the next few months I earned the spot as his go-to agent, selling him one or two homes a month and helping him find tenants after the renovations were complete.

STRs have a huge earning potential but it's definitely something that takes a lot of time, patience, and effort these days.

The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

Unit 4 - short-term rental (this would be best for a unit with a separate entrance so you reduce the bother to other tenants because the changeovers will be more here)Is anyone doing all three (LTR, MTR, STR) in their multi or house hack now?

This takes a little more work, but it's the fairest and reduces the likelihood of tenants that squander utilities.If you choose #2 or #3, there are considerations:Start with an average.