We want to apply the same strategy to deals in California. 

I am in the same boat.

All applicants are screened the same based on credit score, criminal history, landlord references, etc.

Pros to this are I could sell with more money in my pocket than I could listing it, cons are that I lose my VA entitlement for 2 years, which to me isn't a huge deal, as I don't have enough entitlement left to buy house at my next duty station anyway.Thanks, and Happy Memorial Day!

The same in Vegas Nevada has the 4th lowest property taxes that do not assess on the sale of the property, very different than CA. 

Another advantage is you can keep cash in higher yield money markets or t-bills while you are in idle cash. a lot of my clients do the exact same thing.. when i have a deal for them to fund they wire right out of their Fidelity account etc.

I would start the process now on seeing if you can assume the loan, it should be similar to getting approved for a loan and take 30-60 days.

Ohana flaked out on us, and she quit four days before Christmas and I would not recommend her.

Hello,  if I purchase a rental property in Miami this year and close under my name, and then transfer the title to a LLC the same year, do I need to anticipate TWO times the property tax hike for next year?   

However, these days I am focusing on single family residential home, where I buy below market and sell on owner finance!