Also, if the loan is not mediated by a licensed broker, you are subject to usury and other restrictions.  

The property I need help with is actually in Pleasant Hill rather than my current profile location (Benicia) if that makes a difference.Manolo D. please stop posting negative unsolicited opinion responses to my posts as it is not appropriate or helpful to the subject at hand.

Im thinking about structuring a subject to deal. 

You can deduct investment interest subject to the limit discussed later.

In your case, their approval may be subject to the  use  a licensed contractor, or at least licensed and insured  plumber and electrician.

Erik,If you are looking for some help analyzing a deal, you should do a bit of research on the subject property and the comps in the market. 

My “management” time went from “most weekends and frequent evenings” to about 30 minutes a month.

Good riddance- maybe now they wont be so frequently listing their properties well above fair value in the hopes of a desperate HomePath buyer that can waive appraisal.

As for Los Angeles City, if you are renting real property in LA, regardless of whether it is through an LLC or individually, you will be subject to LA City business tax.  

That body of knowledge can be frightful sometimes Joel :)I've seen blogs by frustrated poets and authors, just a means to express themselves and that's all well and good to let the creative juices flow, but when it comes to things like advising others in money matters or their health issues or buy a home, you'd think people would have enough sense not to advise if they really didn't know the subject....not always the case I know. :)