It also is helpful to have a California LLC in case you ever sell that property and move into another state so that you do not need to form a new LLC altogether with new operating agreement, just re-register in the new state as a new foreign LLC.

Their option was to hold onto it and pay the monthly payment or sell it at a loss and move on.

I just moved back here after a decade in Raleigh so I'm only an observer and researcher at this point.

I don't want to move the property to an LLC right now since I am looking for a refinancing opportunity when interest rates go down.

Im considering selling a SFR with good tenants, but I know that I will be really inconveniencing them both with showings as well as with a possible  move out if the buyer is an end user.Anyone have experience with this and can guide me on how to get them on board?

I usually suggest new property owners setup a business before they even close on a property and then use a business credit card for all expenses moving forward and also for them to link it to Quickbooks so everything is automatically tracked for them.There are a lot of nuances and strategies but this is a 30,000 foot view of why you should opt for business>personal

The added challenge is that someone who wants to sell often doesn't want to be obligated to anything for another 3 years but also doesn't want their payout to diminish because clients (in this case property owners) move on to other service providers.  

Your first purchase can be lower price point, but look to move past that zone quickly.

. :)Also, this is not a "conversion" - you only need to move the funds to a custodian who allows using their funds as self-directed.

Do you know how hard it's gotta be to convince future Uber drivers to become loan officers with the way rates have been moving?