I even try to unsell them on the business by sharing my financial losses, litigation,  market shifts, permit purgatory, shady contractors,  clouded title issues,  paranormal activity, squatters, mold, etc.

I have a few questions- "We started an LLC" "We purchased a property" Who are the legal owners of the LLC? 

It seems like every city, county, and state has its own rules, permits, and tax requirements for short-term rentals, and I’m finding it overwhelming to navigate all the different layers of compliance.For example, some places require business licenses, transient occupancy tax permits, or even special zoning approvals.

What new apartments are permitted around it...or 1/2 way thru construction, but not on the market.How do you become an expert or master it.....probably like any other skill...practice. 

I'm an Architect and MRED Grad and have entitled and permitted over 200 units across Bay Area and Norther California, ask me anything about SB9 or ADU design / permitting

My understanding is that the ballpark standard of "unless it would be outrageously tough" (something along those lines) is what applies if you're doing a rehab, seeking new permits, doing structural changes anyways, and things of that nature.For existing pre-ADA structures, my understanding is that the standard is more along the lines of "if it can be easily/cheaply done, you have to do it."

Hi @Heather Bailey something to consider with this is legal mother/daughter may not mean legal duplex. 

We have a RE attorney & mortgage broker to make sure our operation is legal & compliant.

Our firm is planning on starting a Portal (legal term) next year on our roadmap because with $5M as the new threshold this really can move the needle for certain projects and sponsors.  

As European residents, we directly manage investments, leveraging the fiscal and legal advantages available in the EU.