-Opportunity cost: A 7% interest rate isn’t great, but if you think you can achieve returns higher than 7% by buying another cash-flowing property, paying off the mortgage might not be the best use of funds.Now, let’s explore saving to buy another property:Investing in a Second PropertyPros:-Diversifies your portfolio, reducing risk if your Palm Desert STR underperforms or faces challenges (e.g., stricter regulations or lower demand).

I would still need to subscribe to a streaming service for cable tv, so cost savings wouldnt be much (or a wash), but otherwise it seems like it might be a viable alternative?

Just a cost of doing business.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Closing costs, necessary cash reserves, and the expenses to get a property market ready are more than most first time investors think.I have nothing to sell and would be happy to help if you think that I can be a resource.

Before I try to sell the idea to them I'd like to have the best data I can on potential earnings, upkeep costs, likely occupancy, and other points like that.

For me as well as the seller.First, you have to define Sub to financing.Do you mean the reckless kind where you overpay for a property, take over the financing and borrow from others to cover closing costs and holding costs when you have no money, no credit, no income, no reserves and can't tell a warranty deed from a deed of trust and you close on the kitchen counteror do you meanbuying below market value, already having a nice income, having reserves, using escrow and title, already understanding the due on sale clause, have done a lot of creative purchases and know when to use and when not to use creative finance and how to recover if something goes amiss?

It normally doesn't cost you any money to open and to be able to access that large amount of equity to buy or stabalize your current portfolio allows you so much more opportunity costs.For instance, I took a $200K LOC out on my primary residence when I first started in real estate.

It's pretty wild to me that CA properties HAVE to have solar and EV chargers...Adds so much cost. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!