Does that mean net cash in your pocket after interest, taxes, principal, insurance, repairs, maintenance, credit card fees, etc.?

There are some tax implications etc as well. 4.

So, reducing the income tax is always a plus. 

Your cash flow, is it all net after income taxes?

To me interest rate is just another expense like insurance and tax.

No taxes as long as your primary residence. 

Any construction will come with LOTS of permits.I don't know SLT market, it's CA and im in NV, but I've helped more than one person sell in Incline and buy in Reno because the numbers work better for them.I suggest you look into property taxes, and tenant protections of NV vs CA. 

That's the part I was trying to avoid, especially as an out of state investor.Still, I appreciate your reply, definitely something to consider. 

Delinquent Taxes or Loan in Default3.

For tax purposes, having LLC hold the title would be the ideal scenario.