Solid operation also have a partner law firm which helps on more sticky deals.

With switching to an entirely different field, it would probably be a good idea to get a little bit of experience in the day to day operations of property management, as well as familiarizing yourself with some of the Colorado fair housing laws, minimum property requirements, etc. 

No regrets...owning and operating STRs is like managing a sports team.

So if I am reading this properly, you are operating a property without a proper permit and have an illegal basement rental as well and basically got busted?

(cash flow from operations / total rental income) * 100% How much cash flow are you getting?

Noise and smells, hours of operation, and access issues are very common, and many commercial tenants have conflicting needs with residential.

I favor metro areas having to have at least some sort of permit to operate. 

HUD pre inspection, marketing, whole in and out flow operation down there in Jackson, Mississippi.

This is their job and presumably through my vetting process, I have found great operators - they are much better at managing the assets and economies of scale than I could ever be. 

At the same time, many of these “investor friendly” lenders operate like robots without the ability to adapt to the situations that arise in construction lending which makes the construction administration process far more difficult than necessary.