Hi Shelia,Yes, the coast markets are pretty fragmented when it comes to regulation.Best options for STR (in order):Lincoln CityManzanitaFlorenceRockawaySeasideIf you need local expertise, @Taj Richardson lives and breathes coastal vacation and investment real estate.

Some companies have these fees, as a PM, it's a bad look to charge vacancy fees.

.: Quote from @Mark Cruse: Not sure why suggesting a person utilize an off-market strategy is bad.

The thing is there was a lot of appreciation in 2021 and parts of 2022.Real estate didn't appreciate(in general) much from Summer 2022 to start of 2024.In general, the investment, while lagging behind the stock market return, is not a bad investment.You got 10% cash on cash return in year 1 and 8% cash on cash return in year 2.It was negative in year 3 but that is okay if you beleive it to be around 10% going forward.A lot of investors are starving for cash-flowing deals so I am surprised these properties didn't appreciate much.

That's not a bad idea. 

I’m not saying you have a bad deal, or I wouldn’t buy it if it was located somewhere warmer without income tax.

But unless you have bad terms I would likely sit on that deal for the first 4.25 years and then look to refinance at that point prior to the balloon payment 9 months later.

The future is not known, and yes, it very well could end badly, it's a real potential. 

The plus is less of the hobbyist and bad agents to deal with.

my bad...i ment University