Luckily we used sweat equity to transform this property to a suitable, safe, and clean beach house rental.

I'm able to find 3 suitable sold properties but not 3 active.

We also can't use a metric like cap rate and NOI as it is more suitable for more than 4 units.What is the best metric to evaluate such properties?

However, when I pull the property records from the County, the County lists the property as a 3 BR (the 3rd BR has to be the attic - there is no other suitable room). 

Any visitors?

If your guess is the answer I'll be posting tomorrow, you'll win some of my 2022 wall calendars suitable for a man cave, garage, frat house or work shop. 

Beginning April 1, 2022, you will also be required to have a new limited lodging license.If you rent a property that is not your primary residence for less than 30 days, you need a zoning permit for visitor accommodations.

You might consider using an investment advisor to evaluate which offerings are suitable and promising.

But in the case of having it fully managed by others, with a STR policy that requires $1M liability anyway, plus the management company's insurance, wouldn't most liability fall to them first as they're contracted to keep the property in suitable condition, then I'd still have pretty hefty coverage if something went beyond that?  

@Theresa HarrisYes, we did constantly tell them we believed that was the law and because of the pandemic and lifting of the moratorium (we have a had a ton of turn over this year, but we are fortunate because the last three years we had all 16 units occupied by same people) they could not find a place that was suitable for their size.