While I understand the business-centric approach of Nevada and there are fewer taxes/fees in Nevada, the downside of the Nevada LLC is that you still have to pay the $800 to CA if the property is here–so why pay twice? You don’t get out of the CA legal system since CA will have jurisdiction over any claims with regard to the CA-located property. They may look at NV law re the entity itself, but most likely all the other matters will be governed by CA law anyway.
And if you take the “serial LLC” route, you should definitely not comingle the funds from each property–set up separate bank accounts and books for each LLC/property.
