To answer your question about raising rents it depends if it is subject to LA Rent Control or not. 

When a deal falls through, especially for reasons beyond the seller’s control, it can really impact the MLS record and even stigmatize the listing.

Use this turnover as an opportunity to research and find a manager that can stabilize the property and take control of the situation so you can focus on other aspects of life.Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

Also if they default on the wrap its easier to unwind and gives you more control.. either way though your on the hook for the 100k.. and if they dont pay you still have to pay on the 100k while you foreclose on your wrap note..

I sell FSBO to control the transaction and who walks through, not to 'save money '. 

I truly do look forward to learning as there has been some fantastic resources, ideas and comments.

Termination of a month-to-month tenancy is typically controlled by state statute.

The rest is luck: did it rain that weekend and did we have the right buyers walk through the door, to push the winning offer just the last bit.. you can't control that. 

I would think very carefully about ceding control over the investment given you are all inexperienced.

STRs do fantastic if you know what you’re doing and the upfront capital.