These are all reasons to believe the neighborhoods that experienced the largest spike in new housing will effectively absorb the supply that was built in recent years.

@Sandeep K MamidiTo flip properties effectively, use market knowledge, research local trends, and innovative financing options like private money loans, partnerships, and syndicatation.

Across a SF  portfolio you have the same effect. 

I would consult a lawyer and listen to his advice but where I would try to direct this is the lawyer write letter to HOA that they do not agree with the HOA interpretation that the current CC&R does not allow STRs.  

In addition if you use a title company or lawyer to handle the closing then they are legally required to report the sale to the IRS etc.

Lastly, plopping down 5% points for a marginal savings on a monthly payment might not be the most effective use of those funds, maybe being able to buy the next a bit quicker would generate a higher return for the cash.and no, I do not believe we will see rates below 5%, and the fed has never had any control over mortgage rates with the fed funds rate as that is the shortest possible rate overnight borrowing between banks.

But its a good exercise to go through this and try to figure out how it would be more cost effective for first time home buyers.Also keep in mind when I started in RE  Seminars or weekend work shops were put on by brokers and agents teach ing these buyers how to buy their first home..

If you ever need insights on managing properties effectively, tenant placement, or maximizing your cash flow, feel free to reach out.I’d love to connect and explore ways we can collaborate or assist each other.

Are you dealing with a real estate lawyer?

In fact as the fiduciary your responsibility is to grow the account as quickly and effectively as you can.