We live in Nevada and want to build a short term rental in Big Bear CA, with the potential of having a Next Gen option so we can also visit on holiday weekends, while staying in the Next Gen Suite.All three of my house I’ve owned were new builds, as they were my primary residence.

Speak to your CPA about this and also ask them about "converting" the funds to after tax funds so you can plan ahead of the conversions. 

I know the city inside out and lived there for 20 years, visiting regularly.

There was a bogus slip and fall at one of the properties by someone visiting a resident.

Also, a heads up that a typical loan assumption will take 60 - 90 days on average, so be prepared for a long closing period.In our current market we have seen home values decline since 2020/2021/2022 so there may be some motivated sellers out there who need to sell but their loan is now greater than or equal to the value of their home. 

By talking more to the police, we found out that the main tenant had a long history of inviting guests in exchange for help around the house and that those relations would always turn tumultuous and that the police visited the house several times each quarter over civil complaints, suspicious activity, noise, drug related activity, and a bunch of other civil nuisance type of calls.

Jacob,If you do go ahead with the purchase, be sure to review the ownership interests in the property with your Insurance Agent to make sure that all parties that have an interest in the property are included in the policy. 

I'm curious what parts of KC you visited?

The tenant was a curmudgeon and wanted us to shell out $50 a visit for as long as he kept playing his game. 

I visited Tampa once in July and loved the area.