Rates are high, but the fundamental view is being long RE due to a net short.

By the way my last local purchase was dec 2021 which was before rates started increasing (just a few months before, i had good timing - when the fed states they are going to be raising rates, it is a good idea to believe rates may go up).  

From what I've been reading, cap rate is not a reliable metric for STRs.

That it can impact your 5 star review more than what you can charge on a daily rate.

I have $25K cash for a down payment and can add $20K/year ($1,600/month) toward payments.No W2s, I've looked into building a small home right away and using a bank statements loan (have about 8800. monthly income) , but with 9%+ interest rates, it’s beyond my budget.Is there any sort of creative financing ideas possible or private lender possibilities?

And you'll have the best rate/points options with a primary residence.Option #2 is great, especially if you're willing to move into one of the units (because the down payment minimum is just 5% or 3.5% depending on program), but as you mentioned it's really tough here to find small multifamily here.

@Jay HinrichsPre-reo was owned by AHP servicing (plenty about them on here), this platform was homes that had yet to be foreclosed on (I think they were reverse mortgages) that they would sell and manage for investors.they would also finance it at 12%+ rates.

Cleaner is paid a fixed rate for a specific job, you are paid a % of revenue.

Managing it has been exhausting, especially with the tenant issues and LA’s landlord policies.Here are some details about the property:Purchased for $650k, with about $90k spent on renovations.Current Redfin estimate: $1.1M.Mortgage interest rate: 3%.Would selling it “as-is” during the eviction process make sense financially?

Because this property is located in midtown historic district of Sacramento, we feel there may be market for both MTR and STR, but first thing is we will target LTR and let 3 or 4 units filled in.When we first start developing this apartment from ground up, it was intended to flip and move on to the next project, with timing and interest rate etc.. we deiced to keep it as a cash cow for a while and see how things go.