I have a property in CA that I want to put into an LLC.A lawyer advised me to register my LLC in Nevada and then complete the foreign entity process for the LLC to also be registered in California, where the property is. 

Should be fully upfront and aim for a property that could work just as easily as a standard single family rental too

The initial effect on mortgage rates was a subtle increase in long term bond yields, however in comparison to earlier this summer residential and commercial mortgage rates are down considerably.For example commercial lenders were in the 7%++ range just a few months ago, and recently are as low as 5.5%-6% and falling.

I know there are the obvious PITIA items but what about property management fees (I plan on using a property manager), maintenance/repair allowance, and vacancy allowance?

We would like to take out 90k of equity and the property if worth about 250k.

I’d like to make the jump on my first rental property but have no idea how to get in the game.

Outside of real estate I am in the construction industry, in Commercial / Residential Roofing.

I would use the assessor's database, search for the property to get the assessed value.

Don't get emotionally attached to a property you tour.

What strategies have worked for you when transitioning into mid to long-term rental properties?