This option requires an LLC, which I do have.The second option is a personal account and my understanding is that the tenants security deposits would be commingled. 

I'm just trying to understand what my next move should be and what my answer would be to her rebuddle of not having the funds to afford it.Thank you-Emilio

I can completely understand your strategy.

I don't know a ton about it and anybody feel free to correct me if I'm wrong, but from what I understand it's when you basically buy land or a commercial property and a business entity (or multiple business entities) pays you rent, but that entity is responsible for EVERYTHING and you just get to collect money. 

A CA CPA should be able to do your MO LLC returns for you, and would have a better understanding of the large complex CA personal return than someone in MO will have. 

Every "tenant screening guide" I see mentions running criminal background checks and I don't understand how this would be discriminatory.

Glad to see an athlete that understands the power of investing.

Not impossible, but I would definitely recommend discussing your plans with an attorney so you fully understand those risks.

I've been reading quite a few articles on HELOC and home equity loans and from what I understand is that HELOCs and home equity loans may be a good option over FHA loans because I'll avoid having to pay PMI.

Well, our tax incentives for foreigners are even more beautiful and paying 10% maximum of income tax is always funny.When you add foreign investment to tourism and a booming economy it's easy to understand why the prices here are getting higher.That opens a lot of opportunities for everyone looking to invest.