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.

You'll see a lot of people saying you should just jump in to avoid "Analysis paralysis".But I think this should be framed or caveated with the importance of education, which a lot of folks on the forum do.In my opinion, you’re approach is excellent.You’ve created a game plan (thru your business plan) and outlined a timeline.Now you have specific criteria which will prevent sensory overload and limit the effects of the “next shiny object”.In addition, your timeline should ensure that you don’t sit on the sideline indefinitely.You’re well on your way!

Im thinking about structuring a subject to deal. 

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

Like Denzel Washington said in movie "Philadelphia", "explain to me like I'm a 3 year old".Please outline the steps it takes to go from A to Z.Thanks in advance

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

Maybe less if they're comparing it to bank CDs.Typically use a promissory note to outline the details of the loan and a deed of trust or mortgage (depending on the state) to give them a security interest in the property. 

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. 

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. :)