We were being transferred to that area and went up to look at a couple different homes in the area and that one came up that day, and we made a full asking offer immediately.

IF that is the case full stop - yes you are paying for something called insurance but if you have a claim the company has the right to pretty much deny coverage for having the wrong type of policy.Landlord policies are higher cost but for a reason - there is a different and increased level of risk when the house is not owner occupied.Talk with your agent and get all the details sorted out. 

If you are buying another home, I think there are also ways to transfer your mortgage.We have mortgages that are similar to that in the United States but use different terms to describe them.

Your approach here has definitely given me a lot to think about in terms of spotting hidden value.Curious, with the deferred maintenance challenges you faced, was there anything unexpected that came up during the rehab that you’d approach differently next time?

It made such a difference.

There is a difference between being risk comfortable, and being a Kamikaze pilot. 

Then compare that to what you’d net by listing it as-is—factoring in the time you save and the carrying costs you avoid by not renovating.It might seem straightforward, but once you dive into the numbers, the difference between renovating versus selling as-is can be surprising.

Originally posted by @Moises R Cosme:Ugh, my heart goes out to you guys; California is a completely different world.   

There are 3 different types of units, studio, 1 bed, 2 bed.

According to your numbers, I would say to keep it as a STR but as a few others have said, look at different vacancy rates as well management fees.