Does anyone have experience of setting up a STR while in the same position? 

From my experience you should expect a 10% to 15% of gross revenue for repairs/maintenance. 

I’m looking to connect with local investors to exchange insights, experiences, and potential opportunities.Thank you, and I look forward to building meaningful connections! 

Again, this is just my personal experience. 

It seems like the LO's have no experience working with investors and are not very concerned with trying to make the numbers work.

I am an accredited investor, looking to invest 50k to start since it’s my first one, and predominately interested in multifamily as my only previous experience is a rental I manage on Airbnb.

Most of the lenders I work with (provided you have experience and a credit score over 660) would do up to 85% of the purchase price and up to 100% of the rehab costs, provided this doesn't exceed 75% of the ARV.As for the idea of selling the land, great idea.

The fire insurance companies dropped policies holders when they knew the fire was coming, in some cases, they're not even paying the full amount, and there's the case where some people didn't even have insurance.For those people who just want to walk away from this entire experience, is it possible that  morally-driven wholesalers can help them in a situation where not only the California government failed them, but also the Insurance companies?

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Having no experience is risky.