Bradley, are you saying that AirBNB with a co-host will still require my efforts like on pricing and handing the keys over or performing electronic codes assuming a yale lock or something?

As a rule of thumb, 60 days usually satisfies all time requirements, but some areas have a percentage increase limit or rent control requirements. 

Let me know if interested (registration required due to space limits of 40 people per meeting).

Coops in NYC will require 2 years maintenance and mortgage payments to be available post-closing. 

These requirements are common in many cities all over the country now. 

Invest and forget is somewhat risky in real estate, ironically requiring lots of due diligence.

Individually, they can't qualify with income, but as a group, they're well above my requirements.

Tell me how many inspections are required for a typical bathroom reno......I'm not giving you a hard time, just asking the hard questions.

A 200K purchase price will require about 7K in down payment and you'll need reserves. 

I have heard of out-of-state CPAs not being familiar with these rules and assuming that California, just like their home state, does not impose a filing requirement on single-member LLCs, and their client missed the filing, and the FTB came after them with fines and penalties for failing to file.This being said, if the out-of-state CPA is knowledgeable about California tax rules, then there's no reason to fear unless you actually want to meet your CPA in person.