H2 2022- fwd will be high debt and understanding how to operate in that environment is new to a lot of folks, but the chance to succeed and qualify your risk taking is absolutely there.Hold more reserves.

He runs an investment group of ~2500 folks in/around the bay area

It's close to Columbus, which means you've got folks who work there but want more affordable homes, making it a solid market for rental properties.

Notary then those signing also have to give thumb prints .. which some folks are really squirmy with they dont want their thumb prints out in the public realm.. this all changed about 20 years ago or so with all the mortgage fraud of the 90s. 

I think also folks that do the STR have to realize the 35 to 50k spent furnishing the home is what many times makes these negative cash flow and of course over a 10 year run the furniture most likely will need replacing upgrading to keep relevant..

The 'entitlements' part of most projects >=500 kW consumes most of the development timeline.

We host a monthly REI Meetup in Woodland Hills and there are many folks in our group grappling with similar scenarios.

It seems to me that a lot of folks think that is okay and I don't have perfect clarity on it.

cradle to grave.. also specialize in lending developers money for entitlements or the whole project..

One downside I see to this strategy from a tax perspective: You are unable to take advantage of the STR loophole which is a massive offset of your tax liability for many folks.