It was purchased from MLS as a long term buy and hold rental.

2nd home loan How did you add value to the deal?

And also being next to a base Im thinking about short term renting, or Air BNB How did you finance this deal?

Hi AnnaTwo books that you may want to add for your library:1.Short -term rental long -term wealth by Avery Carl2.

I would get an attorney or title company involved to create your loan documents to ensure they comply with the law and cover all the aspects you need.Another method that is likely your best bet to take on investors is to create a joint venture (JV).

We are now doing short term rentals but we're thinking about changing to a small wedding venue. 

The modeling of this is actually pretty easy (see link: 42-unit proforma sample), but my model treats the pre-refi loan as I/O, but that can be updated based on your deal.

I am considering getting into this space (looking at some courses), but worried that its too late, and that deep local market knowledge/understanding of buyers/connection with developers etc is required to make this work, which only incumbent/long term investors will have and would be hard for a new entrant starting from scratch to catch-up...is my hypothesis valid in your opinion ?

Commercial, in terms of CSLB is retail, offices etc.

Loan is 4.25%200,000 left on mortgageValue 400 conservativelyrefinanced in 2019 so about 5 years in.