Once you’ve run enough deal analyses, you’ll start to recognize what a “good” deal looks like versus something that looks good on paper but won’t cash flow in reality.

The investors I know recognize they can get full service PM for 25%.  

Even under GAAP, it’s recognized as a liability that will eventually come due.

A home inspector can recognize foundation damage and a waterproofing or foundation contractor can get you a price on foundation repairs.

The more reps you get running numbers, the better you’ll recognize a true deal when it shows up.

Hi Gin,First, It's important to note that as a technical legal matter, "land trust" are not statutorily recognized in most states, including in CA.

I’m a former California resident now based in the Reno–Tahoe market, and while Nevada has big advantages (tax structure, growth, affordability), I still recognize the opportunities California presents.On your path, it sounds like you’re already in a good position with VA loan experience.

Recognize that virtually all off market properties involve work and/or have risk.Good luck 

California does not recognize series LLCs.

They fail to disclose the Series LLC is not recognized in many states and even in states where they are recognized there are no obligations for a lender or bank to agree to lend to someone who uses one (and many, particularly the less sophisticated lenders who are mostly responsible for lending to the beginner investors buying single families and smaller multi-families).