They are strictly pass through entities.

We are only 10 minutes into downtown, but haven't been subject to the city regulations.

We recommend setting up a dwelling policy (landlord policy) making sure that it is set up for short term/Airbnb rentals, has adequate coverage for furnishing, decorations, and personal property. and then also having an umbrella policy is recommended,  also umbrella policies can add extra coverage to some if not all of your other assets and insurance policies including your auto policies (this all depends on how your policies are set up, you may need 2 umbrellas, 1 for the business side because of commercial policies, and 1 for personal policies)California has intense rules and regulations when it comes to asset protection, having your LLC's properly set up and making sure that the proper entities are getting taxed by the state government. 

This is a strict foreclosure because there's no equity.The listing agent is also our agent.

As foreclosure is a legal process, you should become familiar with the  laws that regulate the process.

.- so Yes I will invest condo in Texas since it's located in appreciated city but the most important factor is the school district and HOA regulation.- Your zillow estimate is your friend, forget what people said about HOA, zillow chart is your friend.

The rule is not strictly contained in Rev Proc 2008-16. 

Houston one of the last cities in the nation, if not the only, that doesn't have zoning regulations. 

I would be curious to see if there are going to be any regulations as far as requiring permits.

@Michael Plaks Lol, thanks for the clarification Michael I don't want anyone here on BP thinking I'm trying to bring back CPA slavery ;).I was only asking for a local to OH CPA, thinking that they would be better versed in any Oh specific rules and Regulations, but I suppose it makes sense to go nationwide since it's primarily Federal tax's that I'm concerned with.