This process can be time-consuming and potentially costly but may significantly enhance your ability to use the rental income for mortgage qualification in the future.

I wish everyone here a happy, healthy, prosperous 2024!

Typically in California, a Will alone is not sufficient to avoid probate - which is a pain, time consuming, and very expensive. 

I only hope something good comes to you in the future to heal this horrible experience. 

STR has additional expenses like the cost of furnishings, consumables (TP, paper towels, coffee, etc.), utilities, TV/internet, landscaping maintenance, marketing, credit card fees, lodging taxes, etc.

.- Distinguishably & Scarcity: One challenge (and opportunity) of investing in Oregon is healthy and happy properties.

I've been able to get a healthy combination of both cashflow and appreciation from all my properties after a little TLC.

Assuming the credit is healthy you may be able to go up to 85% loan to value. 

Assuming you have two spouses who each make $300,000, your hourly rate is about $150 / hour assuming you work about 2000 hours a year.I personally think it is better to continue investing in LTR which will likely be less time consuming / stressful to STR's.You don't want to exchange something where you make $150 / hour(at work) to something else where you may only make $10 / hour.Best of luck

The 50% rule states that approximately 50% of EGI will typically be consumed by operating expenses.While the 50% rule provides a quick estimate, actual expenses can vary widely depending on the property type, location, age, condition, tenant mix, and market conditions.Here's an example: if a property generates $200,000 in EGI per year, the 50% rule suggests $100,000 would go towards operating expenses like taxes, insurance, utilities, and property management.