Anyone own rental property in CA?

[dang]

I'm considering buying a rental property (single family home) but I'm new to the landlord thing. Anyone in CA have any advice? I have a few friends that own rentals and for the most part they've all been pretty happy with how its gone so far. I'm trying to understand the laws better and what I can expect for taxes, income, etc.

If you have any good advice or references I'd appreciate it...

Dan

 

[John H.]

Income Property in CA

Hi Dan,

I sold a 4 unit in Hollywood last year that I was renting out. Currently have 2 houses (1 lot) in Los Feliz that I am renting out. What questions do you have? Typically, my taxes are about 10% of the value per year. There are some advantages to having lived in the property as well (owner occupied). I'm no expert, but realized in this crazy So. Cal market that housing was where the money was. Let me know if I can answer any questions.

John Hammer
Laguna Beach, CA