An added bonus it sounds like California I would only need to pay franchise taxes for the holding LLC even if I have numerous additional LLCs.

On the passive side: REIT, NNN, joining SyndicationsIn the middle (not passive, but attempt to minimize the work): turnkey, multifamily with a PM, SFR with PMLabor intensive: notes, self managed buy n hold RE Most labor intensive but opportunity for highest returns: Value adds, BRRRR, wholesale, being the syndicator, being the developer, flips.The last category requires work, but can produce returns in a different league than the stock market. 

Hi I am trying to run facebook ads to get potential distressed / outdated homesI've been trying various categories.

I've watched numerous YouTube videos, have read articles, etc. but when it comes to designing a space or knowing colors/materials it's definitely a weak point.

My first step is to put together a project team as I have heard advised numerous times.

However, if you have a loss (which most people do when first acquiring a rental because of the deprecation), the loss will not be allowed against your W2 income and just carried forward (suspended) until future years.You can have one of you claim the real estate professional category if you don't have W2 income (other other income for that person) and you spend at least 750 hours working with the properties. 

I have read numerous books on tax strategy so am looking for someone to really ensure that my wife and I are not giving Uncle Sam any more information than we have to as well as help us in strategizing for this year and future years tax strategy.  

I bought my home 15 years ago when there were numerous zombie housed in the surrounding blocks. 

There are numerous reputable turnkey providers/promoters.

You will find numerous articles, forum posts, folks who are knowledgeable and willing to share, and so forth.Please let me know if I can be of any help.Good luck to you.Scott