In category after category, larger condos and higher price ranges are selling better than smaller condos and lower price ranges. 

BTW behind Texas.When all forms of taxes are calculated (income, property, and sales tax), CA ranks below the middle of the nation in total tax rate.  

They pay rent before the due date, clean the property after every client, and if something breaks they usually repair it before I'm aware because their clients will give them bad ratings.

Also is there a plan to replace the HML after a particular point?

One challenge was getting the hotel occupancy up after renovation since no one had booked or stayed in years so there was no existing guest base.

And you would get to indefinitely defer all tax on the gain from the sale.

In California there is $800 franchise tax per LLC per year, which discourages a lot of RE investors from getting an LLC.

They refund 2300 back after the first successful deal, and do not require that fee up front for future loans. 

That's $1,600 per month plus to pay debt, plus at least $400 in taxes and insurance.

After the labor cost to install, it's so much cheaper to go this route rather than using the Kitchen + Bath company for materials and labor.