I'd agree....but his guests will fell creeped out and hurt his business.

As you probably know, water in the basement will start to produce mold in about 24 hours, so your first order of business is to get the basement dry ASAP. 

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

If a STR has a typical homeowner's policy and just Aircover, and the property burns or a tree falls on the home, it will not be covered at all because it was operating as a business under a homeowner's policy.  

I would bet that most title companies who get into the 1031 business don't know how to advise on or conduct much more than the simplest of exchanges. 

- Most offices have their own hourly employees who perform closings as part of their regular jobs.

Hi there, I am a new real estate investor, living in Los Angeles, with access to the capital needed to build a real estate business.

I want to automated this process for my business. 

The deal hasn't performed up to projections and the GP has offered to pay me back my original capital plus 12 percent to buy me out of the deal.

This is a business, like any other business.