We have seen a general drop an overall short term rentals mainly due to regulation.

Trump did the same thing.At least, there's some regulation with the high yield debt (regulated by the SEC).

Also, building strong relationships with your investors and maintaining open communication is key to establishing trust.Your deal structure looks promising, and with your background, I'm sure you'll do well in this new venture.

The people who succeed have a great team established first.

And while it might not be attractive to all real estate investors, I believe it can be a fantastic way to start to build experience, build profit/cash flow and establish yourself as a STR professional in your market and then use that to build a co-hosting/management business and work with investors that want to you use their knowledge and expertise to partner on projects.Point is, don't believe everything everyone says about what is "bad" and what is "good".

Purpose of the Leasing Management Program The primary purpose of the Leasing Management Program is to regulate and monitor leasing activities within the community. 

Quote from @Nathan Gesner: Quote from @Nathan Sherwood: Thanks and that makes sense (and is similar process to some of our other units)The issue is we would like documented verification that the tank has gone below the established threshold (ie 10%). 

San Diego is expensive to Purchase, maintenance and cap ex is expensive, property tax at purchase is expensive in terms of dollars (average SFH prop tax at purchase is ~$1k/month in San Diego), new retail (MLS) purchases are negative cash flow when allocating properly for expenses, it is tenant friendly in terms of regulations but this is largely due to the big advantages LL have due to crazy low vacancy rates.  

Understand the demand, seasonal trends, local regulations, and competition in the area.

The goal of an investor is usually to establish the start date as early as possible, not delay it.