If you have any cap ex left in Palm Bay (like an HVAC major repair or roof) you will lose cash flow for years.

Loan Costs, Deposits, and Escrows: Origination fees, application fees, third party reports, legal, insurance review, title & escrow, rate caps (floating rate loans), due diligence deposit, rate lock deposit, standard escrows, etc.6.

Most nearby cities are the same.Even in the Denver-adjacent cities that do allow non-owner occupied STRs, they vary widely -- some have caps on STRs, some cap the nights rentable as an STR, some cap the number of vacation rentals one owner can have, etc. etc.This is all to say, first know where you can do Airbnb, then start running numbers.

Conventional loans will require 12 months seasoning for cash out and are usually capped at 75% LTV 2.

Not sure about California tax, but if you have lived in the house for 2 years of the last 5 you will not have the cap gains tax federally.

When the plumber removed the cleanout cap, water started coming out.

A lot of people tend to mingle these things when they talk about "break even" or "cap rate", but that leads to a lot of confusion.Let's use some real numbers which may be easier to understand. 

In that case, the GP, who was a cheating SOB, issued a K-1 allocating cap gains [§1231 gains] to my Client, who was a minority LP.  

I own properties in cleveland and yes one might argue that cap rates are a bit lower than in detroit but the market isn't as overheated and there are plenty of opportunities.

While blanket loans often cap at 4 units, there are some lenders who may be willing to consider both properties together if they understand the full picture of your deal.Regarding your idea of separating the single-family sale from the multi-unit purchase, it’s not unreasonable to ask for the purchase price adjustment, especially since the single-family home is already discounted in the package.