It takes time and patience, but the long-term benefits are well worth it.I’ve personally gained invaluable knowledge, listings, and deals from friendships I’ve built over the years.The more people you engage with, the faster you’ll achieve your goals!

I would imagine Long Beach is complicated to get into the STR game but I don't personally invest there so not sure.

I dont know Nathan personally..

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

I personally think they are “higher end” than anything stackable.

Due to the current interest rates, you probably can't live for free, but you can definitely learn how to house hack in that first year, reduced your personal housing costs, learn the rent by room/co-living strategy on-site, and then probably break-even after move out, but most importantly, it is possible to make that work in 2025 with today's rates.It just takes being open-minded and willing to be flexible for the 1st year.  

Don't be that person.  

Some will shed most is not all of their rentals and just do lending .. personal choice.. some things to keep in mind ONLY do first loans. 

Just be mindful that you can't 1031 a personal residence but it might be eligible for capital gain exclusion from section 121.

So the question becomes based on their individual and personal tax situation what is the estimated tax burden they'd save?