You will be taxed $800 a year by California just for having that LLC. 

I just bought a house in April after renting for 3 years as we moved for my wife’s new job and wanted to see what area to invest in well she ended up having a stroke and we spent our savings and getting a loan off one salary is tricky but I worked to get a loan and ended up getting an fha loan and found a house in a nice area.

I encourage people to invest either where they live, or within an hour or so, because there are so, so many threads on BP from folks who bought a random OOS property just to "get a deal" and immediately regretted it.

Also, if I am ever sued in court and during the discovery process I'm asked to list all my assets, I can't just not casually mentioned the Wyoming LLCs and trust right?

@Brandt Thompson...assuming you're going conventional financing, and you're truly going to rent the property, just make sure you get a lease agreement signed and if you can't get a deposit, have a 1007/rent schedule done that will back up the lease, and you should be given 75% of the lease to offset the PITIA. 

@Andrew Borner Regarding your question, no I would not buy expensive investor toolkits from gurus if you're just starting to learn about land investing.

Just sent you a PM. 

Just curious to hear where anyone may see opportunity.

I wish you luck in your hunt, and it will surely help to have a reliable local acquaintance act as your eyes and ears on the ground.Feel free to reach out directly if you have any other questions/just want to discuss!

We have a couple renting a house in Minnesota who is consistently behind on paying rent but they end up paying the full rent within the month, staying just out of reach of agreement termination.