I have managed STRs for 10 years in Los Angeles, so I understand the business and operations.

We live in California at the moment and I have W2 job and my wife a small online business.

I don't know how that business could survive long-term with such low rates.If those numbers are accurate and you can net $38,000 a year, then it's worth holding onto.

It’s a tax office, so I suspect they might be waiting to see how their business performs and the impact of technology before deciding.Thanks in advance for any advice or insights you can offer!

Renting, like hiring an employee, taking on a business partner or client and marring (even more so), are relationships that can be costly if made hastily or imprudently.Like others, I have check lists that I do not deviate from. 

This is a business purpose loan and will have a prepayment penalty and possibly cost a bit more than conventional financing.

I highly suggest you use our marketplaces to find trusted, investor-friendly team members: Tax Pro finder: https://www.biggerpockets.com/business/finder/tax-and-financ...Lender finder: https://www.biggerpockets.com/business/finder/lendersProperty manager finder (if you go that route and don't self manage): https://www.biggerpockets.com/business/finder/property-manag...

I'd like to keep savings and be able to hire out some of the work (something we have not done in the past).My thoughts are to put both into an LLC and look for investors or a business loan, and purchase and move to a new home.

Purchase price: $650,000 Cash invested: $138,000 My business partner and I picked up this 25 lot mobile home park in Owensboro through a wholesaler.

There are opinions on these forums and people have a right to them and people may take it as criticism. real estate is not a business where everyone is friendly and just as you have shown from whoever was trying to scam you and has nothing to do with doing your best, its about being educated before moving forward.