It's all a numbers game, and the most successful investors invest in the markets where they get the best returns!

Hopefully this helps, I am new to this game myself so I will try and share whatever info I can. 

Reminds me of the game "Pit" or Spoons where you yell "TWO TWO TWO" and someone grabs your cards and you swap them out again.

So much for sacrificing living at home to try to get ahead in the real estate game.

Just got into the game of real estate bought a live in fixer upper by Prince George bc!

I can be overly thorough sometimes so I calculated the expectation of loss based on national statistics regarding type, frequency, and severity (average payout) of claims.

But it works, simplified, like if you owed $500 to CA but paid state XX $300, then you only have to pay CA the $200 difference.CA may not be able to get blood from a turnip, but they will suck that turnip dry before they let it go.Likewise if you, say, play professional sports for a team in state XX, live in state XX, make $20,000,000 a year, play 1 out of 20 games in CA, they want that 1/20th of that two million taxed in CA...but they will give a credit for the taxes you paid in state XX according to the interstate agreement. 

But if you have no other options, its a way to get into the game.

It's ok to make mistakes, you have to be in the game to win the game.

I know other property owners who have had mgt companies for years who only get paid when the rent is collected so I wasn't sure if this is still the rule or if Covid recently changed the game plan....