I will speak with my existing insurance agent and see what the status is and report it here.Does anyone from California or Los Angeles area have any experience here?

What Indicators are you watching to track the status of where we are in the cycle ?

@Jeff McMahanIf your intention is to be personally involved in the rehab process, then a self directed IRA or Solo 401k would not work, as those plans require all transactions occur at arm's length - in exchange for the tax-sheltered status of the retirement plan.The Rollover as Business Startup program would be an option for you to explore.  

(b)Maintain accountingrecords from which a Limited Liability Company Capital AccountBalance can be determined for each Member;(c)Execute, file, record orpublish all certificates, statements and other documents and do allthings appropriate for the formation, qualification and operating ofthe Limited Liability Company and for the conduct of its business inall appropriate jurisdictions;(d)Employ attorneys torepresent the Limited Liability Company when necessary orappropriate;(e) Use his best efforts tomaintain the status of the Limited Liability Company as a "limitedliability company" for state law purposes, and as a"partnership" for federal income tax purposes;(f) Have fiduciaryresponsibility for the safekeeping and use of all funds and assets ofthe Limited Liability Company, and not employ or permit others toemploy such funds or assets (including any interest earned thereon)in any manner except for the benefit of the Limited Liability Companyincluding, among other things, the utilization of Limited LiabilityCompany funds and assets as compensating balances for the benefit ofthe Manager; and(g) Maintain a current listof the names and last known addresses of, and number of Units ownedby, each Member and the other Limited Liability Company recordsdescribed in section 709 of the Act at the Limited LiabilityCompany's principal office.

Around here, private is more of a status symbol than anything else.  

I would use owner occupancy status so I can get 5% down and then move out after 1 year.

NOI 80k, int exp 45k, post finance NOI 35k less depreciation 31k, taxable income 4kFast forward 7 years value is up 250k, income up, etc....do a 250k cash out refi.....What is the status of the extra 15k interest (is it deductible?)

I have a solid core 4 and am taking advantage of the hot market to sell off some of the properties to firm up my personal financial status and catch up from some of my mistakes on the first couple properties.

This is been a long time dream that always seemed out of reach until 2020 when my family's financial status solidified which made things much more possible.

I am motivated to start this journey into this, It would be good to hear some feedback, any advice is appreciated.Thank you,Presley Step one, make a simple poster board with crazy goals or niches you want to be involve in and own. (10x mindset, Grand Cardone-ish)Step two, budget (masterfully) your monthly lifestyle expenses every dollar (Dave Ramsey-ish)Step three know your current buying power status, your 3 months improvement of such and your 6 months, and 9 months and 12 months milestone you like to achieve with your current stream of income and side gigs (same time cutting down expenses)During this process at the same time go find out first time buyer programs in your area and also very important is NACA(.)