All of the different accounts does seem like it could get complicated.

For most investors, it's less binary and more complicated than being all-in or all-out of the market. 

Simpler and safer but perhaps more complicated from the financing perspective . 

Turnkey properties aren’t that complicated.

If you want to follow what’s cool then “low cap rate means your getting less headaches and you wont get shot” and “ high caprate means you are in the war zone”, But in truth if you want those great deals, things are more complicated then that.  

Making sure you are doing the right things for the rights reasons might make things a little more complicated.

It's not really that complicated to buy out of state.

So, it’s a bit complicated, but my partner and I went in together, he took a heloc out on his primary to let our business borrow it, and we bought the house free and clear just with a promissory note between the business and him.  

Can I create a LLC in another state and use it to do business here or are there tax complications and not worth saving a few hundred dollars and I should just create a CA LLC?

and so the inspector cannot get into the basement.The owner is a friend of mine, this house is a great deal well below market value and I still would like to pursue it even with the complications above.