The legislation that covers this is in CA Revenue and Taxation Code Section 63.1, to long to try to quote here.

Insurance companies have many exclusions and they may not cover everything, but they can help to pay for some of the costs of a lawsuit.Good:Using one LLC for all of your rental properties.

Sellers have been on the market for more than a year with interest rates high and many are starting to realize that buyers won't be able to pay the prices of pre-2022.

Factor in about 10% of the sale price to go towards closing costs (transfer taxes, commissions, attorney fee, etc) and miscellaneous expenses and you're at $625K so far - this is NOT including demolition costs, holding costs (taxes, utilities, insurance, management, etc), architectural drawings, surveys, building department filing fees, etc.That said, you may also want to consider the costs and potential benefits of adding sq ft. to the existing home and/or updating the home to potentially boost your sale price.All the best!

I'm looking for my first investment property and was going to look through pre foreclosures.

Looked at 4 other existing Teak plantations last week. 

I am looking to purchase an existing motel to renovate and turn into a condotel...where the individual units become condo units, and the motel still runs like a normal motel to guests.How can I legally pre-sell the units before acquiring or purchasing the motel?

An IRR needs to be ran on existing property to see what the return is on the existing property.

I would suggest that you look into whether holding title as joint tenants will trigger the change in ownership needed to effect pre-Prop 19 benefits.

That’s what I used and recently got pre-qualified.