I believe subject to transactions, done CORRECTLY, between KNOWLEDGABLE participants, with FULL DISCLOSURE, are typically successful transactions that have benefits for both sides.  

When I signed up with Gator, the first step is signing up with PCS to get LLC and things set up and I got a HUGE discount to use their services (another benefit of gator).

Alternatively, do the risks outweigh the benefits of $500+ cashflow plus 30% day one equity and less than 2k out of pocket?

This means you'll want to "write off" expenses related to a property you have in service because if those expenses don't benefit you this year they could in the future once you sell the property.We can get into a lot more details with the "if" "and" or "buts" BUT I think this would be the "simplest" answer without diving into your specific situation here.I hope this helps! 

Nothing is 100% passive but if you work with someone how has already built a team you can benefit from their experience. 

Quote from @Ian Ippolito: Quote from @Michael Plaks: Quote from @Ian Ippolito: Quote from @Rud Sev: 3) Unless you're doing a 1031 exchange  at the end or similar tax structure to defer taxes, you will have to *pay back* all that depreciation benefit at the end (on sale...which for you is in 5 years)  via depreciation recapture.

This is especially important when owning rental properties or managing flips because it minimizes your personal liability.However, many people stop at forming an LLC without considering the potential tax benefits of electing S-Corp status.

That feature is bundled in a Resident Benefits Package I have as an addon through Second Nature. 

People still sleep on the area and it is very close to Nor CA but has a lot of different benefits with similar appreciation. 

This change benefits consumers and aligns with more efficient real estate markets seen in other countries.