I'm a local real estate agent specializing in STR around the Yosemite area.

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

It depends on your local laws, but any paperwork you can provide the tenant to indicate that they need to respond might help.

Thank you,  Hi John,there are many CPAs here on the forums, you can do a quick search.

It was purchased from a local wholesaler, then repaired/reno'd, from a single family to a single family with a legal suite.

This has led me to search for firms specializing in the niche area of cost segregation for lower value rental properties, and what I found was firms who are using internally developed software which allows for such cost/engineering data to applied to basic parameters of a specific rental property to come up with a lite cost segregation report for lower value properties (depreciable basis >$500k).  

I recommend going to local meetups.

When it does the price doesn't always make investment sense to me.Might just be an idea to consider both...and some chance expand the search a bit, depending on what part of town your wife will work.

If you don't have access to the MLS, I've found that Prop Wire is very good for running comps since it has option filters that will make your search easier and faster.

There's always going to be loud opposition to this, but I think if you want to secure the best future for locals, you're going to need the money that tourism brings in.