All successful people talk about the importance of having a mentor(s) in their bussiness that Mentor(s) gave them from allready being in that business.Always remember that you need to do a math analysis and try to look at subject prospective properties before you make an offer or at least have a clause in the sales contract that allows you the time (usually 10 to 15 days) to make a detailed inspection of the subject property without a penalty that will hurt you too much.  

I am not a tax person so please consult one nor am I an attorney so check with one as well but what I can gather is that having an LLC in the state you are doing business is best because any foreign business will need to register with the state the property is in and will be subject to their laws anyway.

Basically, you may be subject to a penalty if you don't make estimated payments of 100% of the prior year's tax or 90% of current year's tax owed (the 100% changes to 110% if you are higher income).

It's a strange subject because you'll have so many people tell you that it's a terrific idea and it will be an all-inclusive solution to many housing problems, etc.

I wish I had more to give to the subject; however, at this point I am just following the thread. 

As far as rent control ordinance units up to and including 4 units are not subject to the rent control ordinances but are subject to the rent reasonable policy.

It sounds more subjective than a science.

Hi Everyone,First, thanks in advance for any information on this subject.

This could be a touchy subject.

I'm interested in investing in rentals and flipping houses but I first wanted to do my homework on the subject.