@Michael Sontheimer-  most  lenders will use your  the  scehdule E  from your  tax returns for the past  2 yrs  to determine the   rental income that is usable for  qualifying for a loan ....so  if you have the ability to make this  schdule as  healthy as possible  - you might  consider this  ....if the  rentals  have been owned for under a year - the lenders  may use 75% of the  lease  amount  

Then combine that with market forces pushing many people into the same areas of the country, where you cannot build fast enough to satiate demand for the next 5-10 yrs, and construction costs rising meaning new supply will have to charge a lot more to be financially feasible, conflicting government sentiment to help alleviate the costs (whether it be not subsidizing developers, or not subsidizing tenants).  

Common vacancy assumption is 5%, which generally implies your tenants will stay 2 yrs, with one month downtime on each turn.  

These are the locations that everyone thinks about when they are looking to invest into strs.Pros:Established rules and regulations Tourism Driven markets so they won't ban Airbnbseasy to find cleaners, handymen, managers,etcCons:Highly competitive. hundred of listing to choose from and more are comingEveryone wants to look there for STRs so the price is skyrocketing lowering returnsNew money means new renovations, will this mean 5 yrs down the line you will have to do a lot of work to update?

I own SFHs and condos in the SF Bay Area (CA) for the last 10 yrs, but not 5+ multifamily.

Look at what you're likely to get for said property once it's fixed up (if that's what you're doing) or the set time you want to sell (in 3 yrs for example).

70 yrs old after a life of travel & art collecting.

Hi Vinnia,I have a duplex rental on E Powell corner of 6th that I bought 2 yrs ago. 

My biggest concern is that that with the huge run up in prices in this area, there is going to be a pretty significant correction, and I will be left holding the bag if a correction occurs.I really want to help this family member as they have a young child (4 yrs old) and a spouse who have been displaced from their home. 

In my 25+yrs of appraising, I maybe pulled permits for an appraisal assignment once or twice, but I don't remember the specific circumstances, and I used a service that gets copies of them, and I would charge the client.