That is an impressive rate!

Use tools like AirDNA or Mashvisor to provide market data on projected rental income and occupancy rates, and make sure your lender works with appraisers familiar with short-term rentals.

Full disclosure, I have not purchased in San Diego since Dec 2021 (shortly before rates rose).  

Option 1: The loan that the owner has is an assumable loan at a 3.875% rate and still has about $265K.

He did try to work with me by extending my time from 6 month to a year which led me to ask him question about his turnover rate and success rate of his mentee.

Now for the numbers part, since all MTRs include utilities, the market MTR rates should have that baked in already.

What is your rate, term, LTV, and rent?  

I’m specifically asking about eligibility for the higher return rate offered to Stessa Pro members when using Stessa Cash Management.

That is the best option if you are truly trying to help a family member.you cannot get control of the mortgage, you can do sub2 but you are not in control, the bank could call it due if they see the property transfers title.The other way is for you to buy it from them at market rate, then rent it back to them at market rate.

For example, what would the cash flow be like after you renovate and lease out at the new rates?