If someone is selling existing STR, that means the listing has a critical issue the owner doesn't want to deal with.

Quote from @Bruce Woodruff: Lol, they can't take any criticism of their beloved Cali....But facts are facts....Hey, remember the CA people say how it's the greatest most bestest ever ever.

It may be due to the lengthy pool permitting and construction process. 2025 will be a critical year.

Beyond the foundational advice others have shared, there are a few critical areas to focus on.

Additionally, Chase Ink Business Preferred offers competitive travel rewards and may pair well with their banking services.Bundled Solutions: If keeping everything under one roof is critical, you might explore Silicon Valley Bank or First Republic Bank, depending on your location.

Here are my key takeaways:Tenant Screening Matters: The challenges I faced with the garden unit tenants reinforced how critical it is to have a thorough screening process and not stray from your requirements.

The current use of the property as a two-family dwelling significantly impacts its value and marketability, which is distinct from single-family homes.The initial appraisal comparing your property to single-family homes is likely an oversight, as multifamily properties are evaluated differently due to factors like rental income potential and investor interest.

If you care to learn about the distinctions, read these posts:https://www.biggerpockets.com/forums/517/topics/1215989-expl...https://www.biggerpockets.com/forums/51-tax-legal-issues-con...2.

Essentially, it was one account with the bank tracking individual tenant details on your behalf.That said, it’s critical to ensure your financial records remain accurate by reconciling the account on a monthly basis.

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.