Hello everyone!!So my girlfriend and I are looking in the Southern California area for an investment property to turn into a rental. I came across a sweet wedge deal online. It is a 3 bed 3ba two story single family t...

Pictures taken from the ground and from the air - that fully express the context of the property (mountains, seaside, downtown).   

We could also use the attorney as the trustee, but that is sure to generate legal fees.Anyone on BP have an opinion or rule of thumb on this?

I've seen a lot of opinions on this website about the pros and cons of incorperating as an LLC or not when starting out and I was hoping to get some more clarity on the position in relation to a partnership between two people. 

You are likely to find opinions on both sides.

On top of that I agree with @Jaysen Medhurst that your CapX is low, you've already stated that the HVAC and Roof are 21+ years old, meaning you're going to have to replace them sooner rather than later so your CapX should be at a minimum 10% (in my opinion).

@Alex Smith Everyone has their own opinion on Public Adjusters and I tend to see more BP members recommend hiring a public adjuster immediately.  

In my opinion a person trying to orchestrate a real estate transaction in which he has little money or credit to use should either get the property under contract or reach an understanding with the seller before he approaches any investors.

However, I recently threw the idea by a friend of mine whose opinion I trust a great deal in financial matters broadly, and real estate specifically. 

I would love to know other peoples opinions about starting small one or two rentals, or jumping in with seven or eight.