What kind of grouping issues should we keep in mind to avoid potential pitfalls.5) What is a good process to maintain books for our real estate properties along with our regular business?

I passed first time but it was not my normal  never study take the test first one done and kill it..

So after years of studying real estate investment (and also years in site development) I have what I think is a nice deal put together/under contract, and it looks good to me!

  - Susan has not given notice that she has moved out- Her adult son is still at the property - he is unstable and verbally abusive- The police won't do anything because Susan will not file an abuse complaint against her son Roy- Susan has not maintained the house appropriately meaning there are holes in doors, broken cabinets, damaged floors.

I know I had a pre-existing relationship with these folks, however, the important underlying lesson is that forming and maintaining trustworthy relationships is extremely important.

Ultimately, yes, active property managers should have a strong pulse on your local market and the sub-niches within your area to help you get the highest rental income amount while maintaining the value of your asset and matching you with well qualified tenants. 

It doesn’t matter if you use the street (it doesn’t matter where your driveway is) the fact is the street has to be maintained and a portion Fronts Your Property, so you have pay your share.  

As far as the depreciation piece, I'm planning on engaging with Yonah Weiss on how much we can potentially depreciate this year via a cost segregation study, and accelerate that depreciation while we still can! 

You have to pay and maintain a wall AC. 

My understanding is that California has yearly $800 fees for LLCs, so likely I would put my 3 properties into a single LLC as opposed to playing $2400 per year to maintain, Should I then look at an umbrella policy for the LLC to additionally cover all 3?