There are surrounding towns near each that would be more economical than living in the downtown urban areas.Good luck and welcome to Texas Yall! 

Scarcity defines the current market conditions here in Los Angeles and surrounding areas.

It shouldn't be taken lightly.Adequate and appropriate liability insurance would be a general first step (which might include a general policy and an umbrella policy).Maybe an LLC makes sense, but you'll want to rope in your tax advisor to make sure you're keeping administrative costs as low as possible in the beginning.A good tax advisor will help you navigate business deductions surrounding the use of your property, as home daycare allocations are unique.

@Otto Kinn & @Matt Fogle are two other investors on the forum that know this market and surrounding areas very well. 

Surrounded by beaches, excellent weather, friendly tax laws and affordable real estate & cost of living.

A lot of the jobs/renters come from the surrounding oilfields.I had a client reach out to me yesterday to ask if I could help him move a rental property out there or if he should list it. 

We were interested in lancaster city and surrounding areas and also columbia boro.... we ended up in Lebanon, PA.

WSJ did a story and video on this last year:In NJ, where he holds- There has been a huge shift out of the Urban areas and their immediate surroundings.

@Joseph AntwiWhile there are fewer multi's out my way into Morris County (and surrounding Counties), its generally cheaper and more "open." 

But this home is surrounded by similar houses that have all sold in the last year.