Collecting rent, preserving the asset, minimizing vacancy.

It's been so bad here, that I bought an STR in Indiana with another business partner in 2024 because there are minimal opportunities here - unless you have the ability and budget to extensively source off market properties here.  

And, considering market shifts.. what’s your approach to minimizing risks over the next two years? 

Learn the eviction procedure for your area, perhaps contact a lawyer in the field to help you with this one, and get the fraudster you're currently housing out on the sidewalk to sleep in a cardboard box where they belong.You're going to lose plenty of money here, but this will never happen to you again, and you can minimize your losses if you move as quickly as possible.

The lessons you learned the hard way in 2008 will be invaluable now, and it’s great that you’re aiming to stay small-scale and within your comfort zone of Sacramento, which gives you an advantage of knowledge in that market.Given your experience, I'd say start by focusing on three key areas to build confidence and minimize risks:Budget Control: Over-renovating was one of the big mistakes you mentioned.

I own a fully paid-off home valued at around $275,000, but that's all I have. my credit is poor, and I’ve had minimal income over the past couple of years, which doesn’t reflect much creditworthiness.

By tackling them early on, you minimize the risk of missing critical dates.In my experience, closing a deal within a specific timeframe requires meticulous planning.

Tax StrategyWhile liquidating the brokerage account may trigger capital gains taxes, strategies like staggered withdrawals or tax-loss harvesting can help minimize the impact.

Diversifying your investments could also be a wise strategy to minimize risk.

This property was a foreclosure auction purchase, so minimal information was known.