Consult with a tax professional regarding your rental ideas. Michael Gallon, CPA, in El Cajon. His number is 619-440-4780.
A CPA comes up with ideas and knowledge you will never get on this forum.
Personally, I am afraid of RE anywhere in the country. What is a safe place, where you know prices will not go down? I don’t know of any. Even Omaha, NE, a place protected from zany bubbleland is experiencing a slowing housing market, reduced pricing, more foreclosures. How far can prices fall there? Maybe only 5-15%? ARMs were used there, and construction was a major source of hiring.
The 2007 recession will cause prices to fall nationwide, because there is a national housing glut and national exotic loan usage.
