On balance I have made way, way more money from appreciation that I ever did from cash flow.To me the most important consideration is to always have money or access to money, never be forced to sell.

Several participants made the point in response that the county for a very long time has stood in the way of affordable housing being constructed, first and foremost by zoning, and that an STR ban isn't going to solve the problem.

Be sure to follow all formalities, such as sending via certified mail if required.Transfer Rent Payments: Notify tenants in writing that rent payments should be made to the new property management company moving forward.

It is a failure to take the chance and see what you are made of.  

I made some videos on the renovation and overall process - happy to share those with you and answer questions about my experience.

People staying for 30-90 days are a completely different customers than someone in a years lease. 

What made you interested in investing in this type of deal?

When people made statements such as this, they were already doomed to fail. 

I suspect build cost in CA are closer to 400 a foot than 200 like many other areas and of course far higher for the custom homes.

But I would urge planners to consider that the Sec 263 regs they rely upon for the justification for not expensing remodeling costs is actually an exclusion section which prohibits deductions under pspecified circumstances that being that the amount was: "paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate."