@William Tong, did you see the announcement?

You should think about attending a few of these meetings to meet the local officials and ask some questions about what kind of development they want to see and what they think the area will support.

My youngest son (18) is nearing his completion with obtaining his CALDRE sales license and has multiple opportunities with several brokers in the Bay Area to complete the requirements to be official.

He came announced that day, but I never gave him permission to allow two different neighbors from the building into my home.

Here is a brief look at the process.James owns the house free and clear with no mortgage.James approaches bank for loan on equity.Bank checks James' credit score to make sure he is a good risk.Bank insists on official appraisal to find out what the property is actually worth.James has to pay for the appraisal BEFORE he knows if he will get the loan.

All LLCs have a registered agent where formed and in each of the jurisdictions they officially do business.

One of the groups offered a buyout option (which I took) prior to morphing into a fund and going public, the other simply announced they would be restructuring.

When does the house officially get labeled a rental for tax purposes?   

Unfortunately you are learning the most useless people in this world are local government officials and HOAs. 

It'll bring in $600/week.My official day job is working in a medical clinic.