Rather advertising free utilities, you stipulate you will send them a bill each month on the overages to be included in the rent.

AlohaThis sounds a lot like Honolulu Hawaii where there is a bill to limit the number of STR to 1% and allow unlimited B&B or hosted vacation rental.

You may want to consider that as an alternative retirement investment vehicle, it has number of advantages over an IRA LLC:Custodian is not required (eliminate all custodian fees)Get checkbook control without the need for an LLC (trust is used as a vehicle to hold 401k plan assets), you have full control over the plan assets as trusteeAvoid expensive CA Franchise tax of $800/yrExempt from UBIT on leveraged real estate Ability to take a personal loan from your 401k, any time, for any reasonContribution limits are 10X higher than an IRA (up to $61,000 for 2018)Tax-free investing using Roth sub-accountAbility to correct a prohibited transaction and moreRegarding your questions about getting a non-recourse loan: this is an asset-based loan so the age of an entity is irrelevant.

@Amy Hu the only drawback with mini splits is their ability to heat inside when it’s below freezing outside http://www.daikinac.com/content/assets/DOC/SubmittalDataSheets/072017/MultiZone/2MXL18QMVJU-Submittal-Sheet.pdfIf you go with daikin, I would recommend their “enhanced capacity” line.

These numbers make so much sense.....the renters build my equity in the property long term while I get to pull 12% return on the cash i put down out of pocket.....If your'e familiar with many high quality mutual funds available in the marketplace, they average a 9-10% rate of growth.

The first question to ask is whether you'll be transferring your job to LA or will you be unemployed and looking for a new job since a w-2/1099 will factor into your ability to get financing?

neighborhoods, general appeal to Americans, the ability to pare off a single unit (you can't chop off 5 of your worse apartments), diversified geographic locations (if the neighborhood your apartment building is in tanks, you tank), etc.

I can ask to see their visa to verify that they are eligible to live in the US for the duration of the lease and I can require documentation of proof of income or ability to pay rent that meets my criteria. 

ROE over 5 years is too low (I want 15%), you’re creating zero property value and your ROE in this example is being largely impacted by your 3% annual property value growth, that’s a bit high for me at this part of the cycle (2% would make me more comfortable) I would also make the assumption that your rents and expenses are growing in lock step. 

That was all done over 6’months time frame .if you have funds and the ability to analyze deals there is no reason to wait around sitting on your laurels saying you’ll dive in on such and such date .