In this rate environment if you buy an approval or get one yourself a lot of banks aren't touching it right now and the ones that are will give you 50-55% LTV.

  ^ To touch on this point, Jerome Powell just recently said this exact thing as one of his two trains of thoughts:To hold rates longer, and put some weight on it OR to jump up it quicker and hit it down hard faster. 

Let me see if I can touch on the most important parts... 

It has generated good traffic so far (mostly from Zillow I think, and a couple calls from CL).However,  today I got in touch with someone who found my house posted fraudulently on Point2homes.com, with a much lower rent and amazing features like Ocean Views and on and on.    

Unless you are doing all of the maintenance yourself, figure about 5k yearly for touching up paint, repairing misc. items the guests break, bikes, kayaks, BBQ grill, pool maintenance, lawn service, pest control, replace TV remotes every time someone checks out. 

@Bob Friedman oh that’s great I’ll have to get in touch when I’m ready to start my ADU project! 

My criteria are:  An area I want to enjoy with my familyNo pending or or existing STR restrictions or legislation in processPotential occupancy rates > 150 days per year Net cash flow between -5k to $5k per yearFamily friendly destinations, non Bachelor party destinations I wrote a BP blog article also that touches on some of this as well that you might find interesting.  

I think its going to just take some time for the end buyers in the chain (the people responsible for buying the MBS through the whole process - generally banks, insurance cos, pension funds) - by nature are very conservative and slow to adopt to new things like SRO.Its a tough situation because the message a lot of times ends up being "rent it out traditionally on a single lease since thats more conservative" yet they are out of touch with investors who can only cash flow in this current environment with creative solutions such as rent by room, etc.

Yesterday, I noticed a bike in the front yard which was not there when I did my initial inspection.I normally don't touch these kinds of properties (and try to avoid occupied properties in general), but it was so cheap I couldn't resist.

I’d like to touch base with someone in the field as I have some questions as it pertains to the job itself and what any similarities/differences to a PA building code inspector might be.Any help or pointing in the right direction is greatly appreciated!