@George EvansIts really important to learn the basic rules of investing with a self directed IRA before getting involved.

ACTUAL bank statements  LOL.. that's what you need.. and that's why they use me.. we are for real and know what we are doing and what we need to do to support those who want to do what you want to do... you either have not explained it correctly to those potential money partners or they are nervous nellies and probably wont close anyway.

I'm not sure what the rules governing LLCs are in CA.

Plus, I keep all documents that have ever been signed by me or them uploaded using their file system so at any time, either party can access their lease terms or rules and regulations quickly without having to dig in a drawer to find them.I highly recommend for a first time landlord.  

Things change so I'm not ruling Missouri out for him completely...

Hello,My husband and I are new to Bigger Pockets and are enjoying all the information, resources, and support it has to offer.

But should you get interested in CREI such as multifamily or self-storage, the game rules become much more favorable, since lenders look at the asset and it’s performance, the syndicator’s funding power and partner quality to increase NOI rather than looking at the individual capital investors.

For the last one I did I charged a $40 application fee as the area supported it, however at one of my other properties I would not be able to charge that much.

I think many professions have a leverage if they decide to become real estate investorsProperty management - as described by DavidAccountant - we understand Profit and loss statement, cash flow statement etcgeneral contractors - they will know estimated costs required to rehab a property.The rule is use your profession to become a real estate investor.If there is a skill that you are not an expert in - pay someone who knows how to do it better.

This community is such a supportive resource, and the opportunities for education are rich.