Anyone doing short term or midterm rentals in Fullerton?

[Renee Ren]

I'm recently looking to buy a SFR in Fullerton. I heard home owners need to apply for the permit to do short term rentals and the city is not issuing any licenses. I spoke to an agent who is helping clients manage short term rentals. She said the licenses are running out but still can apply for it. She charges 20% of annual rent as property management fee. Midterm rent over 30 days do not require a permit though. Does anyone run a STR or MTR in the area. Please share your experience. Also do I need to hire a property management company or can I start learning it on my own. Thank you.

[Kiera Underwood]

@Renee Ren Curious if you're committed to staying in a market where regulation is so tough or if you're open to areas that might not restrict you as much? From a management standpoint I always default to professionals. I am competent, but I don't have the legal knowledge to feel sufficiently protected. That's where I lean on a team that has obviously done their legal homework. Especially I California I would be over protecting myself. I opt to position for short term in OKC where it's VERY landlord friendly and STR returns are still insane. 2-3x the cash flow vs long term rentals. There's a duplex I'm working on now that's newer construction A class for 420k. With one unit str and one unit LTR it'll cash flow $2700 a month if I pay cash and $700 a month if I'm paying a 7% interest rate. All of that said this is a low and slow appreciating market, so just a totally different game vs CA.