However, it's crucial to remember that building a reliable team of trusted individuals is essential.

Linking with good people has been key (especially the cleaning service), similar to any other market, but I'd say it's even more crucial when managing a short-term rental from a distance.

My Mom @Rhonda Blue started investing when we lived in Orange County, Mission Viejo CA.

I currently flip homes in LA and Orange Counties.

As a Southern California native growing up in Orange County... the "high desert" and Joshua Tree are not at all sexy.

This is crucial if you are using all or any funds as a down payment.

Below are some insights based on the information you've provided:Self-Directed Roth IRA:Setting up your individual portions of the LLC within a self-directed Roth IRA might be possible, but it's crucial to consider a few things:Given the potential complexities and the importance of compliance, it's strongly recommended to consult with a financial advisor who specializes in self-directed IRAs and a tax professional before proceeding with this strategy.Prohibited Transactions: Self-directed IRAs have strict rules about prohibited transactions, which include transactions that directly or indirectly benefit the IRA owner or disqualified persons (such as family members).Unrelated Business Income Tax (UBIT): If the LLC generates income that doesn't qualify as passive income, such as rental income, your self-directed Roth IRA might be subject to UBIT.

This could potentially result in a net zero capital gain or a net capital loss of $0 for the year.It's important to note that tax laws can be complex and subject to change, so it's crucial to consult with a tax professional who is knowledgeable about the tax regulations in your jurisdiction.

These records can be crucial if you ever need to prove that the rollover was done correctly.It's important to note that if you receive a check from your old custodian, they may withhold 20% for federal taxes.

This will help in case of any future audits or tax inquiries.Legal Agreements: It's crucial to have a clear and legally binding partnership or operating agreement in place that outlines the responsibilities, ownership percentages, and financial arrangements among the partners.