One thing that can save you money in the long run is establishing a Delaware Statutory Trust (DST), which can offer you a unique twist on the liability benefits of the LLC and infinite scaling but does not hit you with the annual $800 franchise tax in CA.In your situation I would recommending sitting down with an experience attorney and CPA to get their advice on your situation and future goals.

MF (depending on size) is a different game altogether.  

He has now mentioned that he wants to get back into the real estate game, and buy more properties later this year, which he agreed to have me come along to witness first hand how the whole process takes place.

I imagine it will easily get to 750+ in a month or two.Okay, now let’s talk about my wife’s personal credit round which didn’t turn out so well.Unfortunately, my wife did not have much established credit prior to this process, mainly because every purchase we made day-to-day was on my Citi card which is under my name and my credit.

One company owns everything and does nothing (this is your SLLC a/k/a “asset holding company”) and a completely separate company handles all of your operations (this is a traditional LLC a/k/a “operating company”) For the operating company which serves as your face to the world and through which you do all your business, you establish a Traditional LLC to carry out the operations of your investments.

I  have a similar game plan and situation as you.  

Following the sage wisdom of David Greene, our plan is to establish a "Core 4" team in a few different markets and develop those into profitable business relationships.As we've just started on this path, any advice is welcome, and anyone interested in working with motivated fledgling investors, please feel free to reach out!

Check with the code violation manager, some of my cities where ok with a game plan others made you fix it. 

BTW I buy SFRs.If you want to take your investing game to the next level. 

Also remember, depending on your threshold, the further from LA you get, the farther your money will go, but also your commute.To start your education, I would recommend Long Distance Real Estate Investing, by David Greene - it's not the most concisely written book, but it would certainly give you a look into what it takes to be successful at it.As for me - Since I moved to LA a year ago, I have realized that the cash flow game isn't one that I feel I can do successfully and I'll continue to buy MF's back in MA in a market I know better.Good luck and feel free to PM me if you have any questions!