It is also very big and requires constant reno/repairs.My tax returns are laugh worthy to conventional lenders and I have 2 other properties so my debt to income ratio looks ridiculous to the average underwriter... but the cash flow is definitely there. 

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Also there are many other influencers that just buy and hold and claim that's the best way to long-term wealth.

I also pulled the trigger on 1 pasco tax deed sale.

I see the House passed the Tax Relief for American Families and Workers Act of 2024, meaning that bonus deprecation may get extended. 

I get the $25,000 to $50,000 Option fee for my pocket, and I can buy another property, plus I get about $8,700 a year in cash flow and the principal pay down and the equity capture and the tax write offs.

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.

I believe the biggest arguments against Portsmouth are the high local taxes and of course the crime.

Also 4th quarter of last year Packwood and county officially did discuss potentially regulating STR's by either limiting numbers or adding a tax to cover increases in local services that are needed.

Research rates for a payroll service for your employee that can handle your federal state and local employment taxes / calculations Know your federal state local and county tax requirements as well as whether you must have workman's comp for the person or not.