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.

That said, I've seen many of these carriers are pulling away from habitation exposures (non-renewing a good portion of that business).  

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...

In fact it's the exact opposite, 1% of commercial agents don't know what owner financing is after doing this model daily and speaking to 100's of commercial agents.

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. 

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.

"Chasing" after a tenant is not good business and will waste a ton of your time.

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.