Avoid common pitfalls like skipping due diligence, underestimating repairs, and overleveraging having reserves and a strong team is key.Good luck!

@Tiffani HollisFor a long-term rental, I’d avoid used dishwashers entirely—repair costs and reliability issues often outweigh the savings.

@Kristin MathernI would pay it given no keys were provided, it wasn’t specifically addressed/mentioned in your lease, you were provided the opportunity to address/fix yourself with a 25-30 dollar replacement from Lowe’s/Home Depot, and lastly, it was an existing situation that could have been avoided/prevented at move in.

Usually the numbers don't work to build in these neighborhoods, unless government tax credits, etc.Do you see the problem with your two statements:"The turnover costs could/will be high"and"How much more damage could they do?"

(As AZ and your current state will fight over who gets to tax your gains with the federal government.)I have to throw most of the shade on your horrible tax guy/cpa who didn’t tell you renting it out was a $50-$100k mistake. 

I’d really appreciate any insights, whether there’s anything I missed, any places you’d avoid, or any tips for STRs in this market.

Selling your share at fair market value could avoid gift tax but may trigger capital gains tax for you based on the sale price and your cost basis.In California, the transfer may also trigger a property tax reassessment under Proposition 13 unless a specific exemption applies.

The process will be slow, but with patience and smart planning, you can move forward step by step.🔹 Property Tax Relief – If your property is severely damaged, you may qualify for reassessment and potential tax refunds.

The property I am on they are trying to avoid foreclosure by turning it over to a rescue fund and diluting investor's money.

If a home is titled in a trust (or an LLC), the trust or LLC should be added as an additional insured to avoid potential disputes during a claim.To confirm, we reached out to an insurance carrier, who clarified:“A carrier can potentially deny a claim if the home is titled in a trust or LLC but the insurance policy is under the individual homeowner's name.